The Home Depot, Inc. (NYSE:HD – Get Rating) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totaling 12,950,000 shares, a growth of 6.6% from the February 28th total of 12,150,000 shares. Based on an average daily volume of 3,680,000 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.3% of the company’s stock are sold short.
Home Depot Price Performance
Shares of Home Depot stock opened at $297.73 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.33 and a debt-to-equity ratio of 26.86. The firm has a market capitalization of $302.18 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 1.71 and a beta of 0.93. The business’s 50-day moving average price is $302.69 and its 200-day moving average price is $303.64. Home Depot has a 12 month low of $264.51 and a 12 month high of $347.25.
Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.04. Home Depot had a return on equity of 4,929.40% and a net margin of 10.87%. The business had revenue of $35.83 billion for the quarter, compared to analyst estimates of $36 billion. During the same period last year, the company earned $3.21 EPS. Home Depot’s revenue for the quarter was up .3% compared to the same quarter last year. Sell-side analysts forecast that Home Depot will post 15.85 EPS for the current fiscal year.
Home Depot Increases Dividends
The company also recently announced a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th were paid a $2.09 dividend. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Wednesday, March 8th. This is a boost from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s dividend payout ratio (DPR) is presently 50.12%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on HD shares. Robert W. Baird reduced their price target on Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a research report on Tuesday, February 21st. Cowen reduced their price target on Home Depot from $379.00 to $360.00 and set an “outperform” rating for the company in a research report on Wednesday, February 22nd. Piper Sandler reduced their price target on Home Depot from $320.00 to $300.00 in a research report on Wednesday, February 15th. Bank of America reduced their price target on Home Depot from $360.00 to $346.00 in a research report on Wednesday, February 22nd. Finally, Roth Mkm reduced their price target on Home Depot from $312.00 to $292.00 and set a “neutral” rating for the company in a research report on Wednesday, February 22nd. Thirteen analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $330.61.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Heartwood Wealth Advisors LLC increased its holdings in shares of Home Depot by 4.1% in the 3rd quarter. Heartwood Wealth Advisors LLC now owns 1,582 shares of the home improvement retailer’s stock worth $437,000 after purchasing an additional 63 shares in the last quarter. Cottage Street Advisors LLC increased its holdings in shares of Home Depot by 26,657.7% in the 4th quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock worth $659,000 after purchasing an additional 3,567,063 shares in the last quarter. West Branch Capital LLC increased its holdings in shares of Home Depot by 0.4% in the 3rd quarter. West Branch Capital LLC now owns 10,863 shares of the home improvement retailer’s stock worth $2,998,000 after purchasing an additional 41 shares in the last quarter. Bell & Brown Wealth Advisors LLC grew its holdings in shares of Home Depot by 3.3% in the third quarter. Bell & Brown Wealth Advisors LLC now owns 7,824 shares of the home improvement retailer’s stock worth $2,159,000 after acquiring an additional 253 shares during the period. Finally, Community Bank of Raymore grew its holdings in shares of Home Depot by 120.0% in the third quarter. Community Bank of Raymore now owns 1,650 shares of the home improvement retailer’s stock worth $455,000 after acquiring an additional 900 shares during the period. Hedge funds and other institutional investors own 68.31% of the company’s stock.
About Home Depot
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The Home Depot, Inc. engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: US, Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.
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