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

Jennison Associates LLC reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 9.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,990,169 shares of the home improvement retailer’s stock after selling 208,273 shares during the period. Jennison Associates LLC’s holdings in Home Depot were worth $806,416,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of HD. Fairway Wealth LLC purchased a new stake in shares of Home Depot in the second quarter valued at about $25,000. Kings Path Partners LLC purchased a new stake in Home Depot during the second quarter worth about $33,000. Livelsberger Financial Advisory purchased a new stake in Home Depot during the third quarter worth about $46,000. Denver PWM LLC purchased a new stake in Home Depot during the second quarter worth about $40,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in Home Depot by 68.0% during the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after buying an additional 51 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HD shares. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Evercore ISI lifted their target price on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Morgan Stanley lifted their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Sanford C. Bernstein assumed coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price for the company. One investment 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $426.00.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the 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 sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

HD opened at $406.88 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 52-week low of $302.34 and a 52-week high of $421.56. The company has a 50 day moving average of $401.13 and a two-hundred day moving average of $367.78. The company has a market cap of $404.15 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.84 and a beta of 1.01.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. The company 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%. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.81 earnings per share. On average, analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.21%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Home Depot 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.