The Home Depot, Inc. (NYSE:HD) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 78.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 383,330 shares of the home improvement retailer's stock after selling 1,429,333 shares during the quarter. Jennison Associates LLC's holdings in Home Depot were worth $140,486,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Navigoe LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $29,000. Abound Financial LLC purchased a new position in Home Depot during the first quarter worth about $31,000. Quarry LP boosted its stake in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after buying an additional 66 shares during the last quarter. Iron Horse Wealth Management LLC grew its holdings in Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after buying an additional 46 shares during the period. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Home Depot during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on HD. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the company an "outperform" rating in a report on Thursday, May 22nd. Wells Fargo & Company set a $420.00 price objective on Home Depot and gave the stock an "overweight" rating in a report on Monday, June 30th. TD Securities lowered Home Depot to a "buy" rating in a research report on Monday, June 2nd. Piper Sandler reduced their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, Sanford C. Bernstein restated a "market perform" rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Stock Performance

Shares of NYSE:HD traded up $0.28 on Friday, reaching $359.32. 3,360,940 shares of the company's stock were exchanged, compared to its average volume of 3,438,531. The business's 50-day moving average is $366.09 and its two-hundred day moving average is $374.69. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a market capitalization of $357.50 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 3.41 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter last year, the company earned $3.63 EPS. Home Depot's revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.56%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio is currently 62.42%.

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.