Jennison Associates LLC Has $806.42 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Jennison Associates LLC trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,990,169 shares of the home improvement retailer's stock after selling 208,273 shares during the period. Jennison Associates LLC owned about 0.20% of Home Depot worth $806,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Abacus Wealth Partners LLC boosted its holdings in Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer's stock worth $285,000 after purchasing an additional 25 shares during the period. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer's stock valued at $1,469,000 after buying an additional 25 shares during the period. Capital City Trust Co. FL grew its position in shares of Home Depot by 1.1% during the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer's stock valued at $1,011,000 after buying an additional 26 shares during the last quarter. Ruedi Wealth Management Inc. raised its stake in Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer's stock worth $817,000 after acquiring an additional 27 shares during the period. Finally, Acorn Creek Capital LLC lifted its holdings in Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer's stock worth $291,000 after acquiring an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.10% of the stock is currently owned by insiders.

Home Depot Stock Performance

HD stock traded down $6.80 during mid-day trading on Wednesday, reaching $400.00. 4,530,940 shares of the stock traded hands, compared to its average volume of 3,375,913. The firm has a market capitalization of $397.32 billion, a PE ratio of 27.35, a P/E/G ratio of 2.84 and a beta of 1.01. The business has a 50-day moving average of $401.13 and a two-hundred day moving average of $367.78. The Home Depot, Inc. has a 52 week low of $302.34 and a 52 week high of $421.56. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.81 earnings per share. As a group, equities analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot's dividend payout ratio (DPR) is currently 61.14%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HD shares. Morgan Stanley upped their price objective on Home Depot from $380.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. DA Davidson upped their target price on shares of Home Depot from $430.00 to $466.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Piper Sandler upped their price objective on shares of Home Depot from $387.00 to $455.00 and gave the stock an "overweight" rating in a report on Monday, September 30th. Guggenheim raised their target price on shares of Home Depot from $390.00 to $450.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Finally, Bank of America boosted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. One 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. According to data from MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and a consensus target price of $426.00.

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.