Short Interest in The Home Depot, Inc. (NYSE:HD) Grows By 5.7%

The Home Depot, Inc. (NYSE:HD) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 9,120,000 shares, a growth of 5.7% from the July 15th total of 8,630,000 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average trading volume of 3,480,000 shares, the short-interest ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group upped their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company dropped their price objective on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Evercore ISI reduced their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada dropped their price target on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday. Finally, TD Cowen reduced their price objective on Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $386.33.

Home Depot Stock Up 0.6 %

Shares of HD traded up $1.99 during midday trading on Friday, reaching $362.06. 3,308,320 shares of the stock were exchanged, compared to its average volume of 3,434,097. The company has a market capitalization of $359.02 billion, a P/E ratio of 24.28, a PEG ratio of 2.48 and a beta of 0.98. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. Home Depot has a 52 week low of $274.26 and a 52 week high of $396.87. The company’s 50 day moving average is $350.74 and its two-hundred day moving average is $353.23.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $4.65 earnings per share. On average, sell-side analysts anticipate that Home Depot will post 15.28 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently bought and sold shares of HD. Fairway Wealth LLC acquired a new stake in Home Depot in the 2nd quarter worth approximately $25,000. Bare Financial Services Inc acquired a new stake in shares of Home Depot during the fourth quarter worth $26,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $27,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the second quarter valued at $33,000. Finally, Burkett Financial Services LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $38,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

About Home Depot

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.