Jennison Associates LLC Acquires 569,690 Shares of The Home Depot, Inc. (NYSE:HD)

Jennison Associates LLC boosted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,917,286 shares of the home improvement retailer's stock after purchasing an additional 569,690 shares during the period. Home Depot comprises approximately 1.3% of Jennison Associates LLC's portfolio, making the stock its 19th biggest holding. Jennison Associates LLC owned 0.50% of Home Depot worth $1,886,271,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of HD. Bey Douglas LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $913,000. Hartline Investment Corp lifted its position in shares of Home Depot by 3.0% during the fourth quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer's stock worth $5,397,000 after acquiring an additional 460 shares in the last quarter. Wolf Group Capital Advisors lifted its position in shares of Home Depot by 6.1% during the fourth quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer's stock worth $2,604,000 after acquiring an additional 430 shares in the last quarter. Alliance Wealth Management Group purchased a new stake in shares of Home Depot during the fourth quarter worth $253,000. Finally, Zullo Investment Group Inc. lifted its position in shares of Home Depot by 6.6% during the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer's stock worth $2,826,000 after acquiring an additional 504 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Trading Up 1.5 %

Shares of NYSE:HD traded up $5.02 on Monday, reaching $339.60. 2,984,350 shares of the company traded hands, compared to its average volume of 3,442,896. The business's 50-day simple moving average is $338.52 and its 200 day simple moving average is $352.15. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The stock has a market capitalization of $336.75 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 2.31 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 (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping analysts' consensus estimates of $3.61 by $0.02. The company had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. Home Depot's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.82 earnings per share. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.65%. Home Depot's dividend payout ratio is currently 60.36%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the firm's stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the sale, the executive vice president now directly owns 33,325 shares in the company, valued at $11,503,123.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HD. TD Cowen dropped their target price on Home Depot from $440.00 to $420.00 and set a "buy" rating on the stock in a research report on Wednesday, May 15th. HSBC decreased their price target on shares of Home Depot from $323.00 to $318.00 and set a "reduce" rating on the stock in a report on Wednesday, May 15th. Bank of America upped their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a "buy" rating in a report on Monday, April 1st. StockNews.com cut shares of Home Depot from a "buy" rating to a "hold" rating in a report on Saturday, May 25th. Finally, Raymond James reaffirmed a "market perform" rating on shares of Home Depot in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $378.42.

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.

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