The Home Depot, Inc. (NYSE:HD) Short Interest Update

The Home Depot, Inc. (NYSE:HD) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 9,680,000 shares, a decrease of 8.4% from the October 31st total of 10,570,000 shares. Based on an average daily volume of 3,290,000 shares, the short-interest ratio is presently 2.9 days. Approximately 1.0% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the transaction, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Several institutional investors and hedge funds have recently bought and sold shares of HD. Fairway Wealth LLC acquired a new stake in Home Depot in the 2nd quarter valued at approximately $25,000. Kings Path Partners LLC bought a new position in Home Depot in the 2nd quarter valued at about $33,000. Denver PWM LLC acquired a new position in Home Depot during the 2nd quarter valued at about $40,000. Legacy Investment Solutions LLC acquired a new position in Home Depot during the 3rd quarter valued at about $41,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Home Depot during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research reports. Morgan Stanley boosted their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Truist Financial raised their target price on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Wednesday, October 2nd. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Finally, Evercore ISI increased their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Up 0.6 %

NYSE:HD traded up $2.39 on Tuesday, reaching $429.35. The stock had a trading volume of 2,712,703 shares, compared to its average volume of 3,380,612. Home Depot has a 12-month low of $318.96 and a 12-month high of $439.37. The stock has a market cap of $426.50 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 2.97 and a beta of 1.03. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a 50-day moving average of $407.48 and a 200 day moving average of $372.20.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.81 earnings per share. On average, research analysts predict that Home Depot will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.