Wellington Management Group LLP Sells 1,594,980 Shares of The Home Depot, Inc. (NYSE:HD)

Wellington Management Group LLP lowered its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,848,584 shares of the home improvement retailer's stock after selling 1,594,980 shares during the quarter. Wellington Management Group LLP owned 0.69% of Home Depot worth $2,664,031,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. K.J. Harrison & Partners Inc boosted its holdings in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock worth $3,535,000 after purchasing an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC grew its holdings in shares of Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock valued at $9,242,000 after acquiring an additional 3,873 shares in the last quarter. Pensionfund Sabic increased its stake in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock worth $4,357,000 after acquiring an additional 3,800 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer's stock worth $5,291,000 after acquiring an additional 1,506 shares in the last quarter. Finally, Johnson & White Wealth Management LLC acquired a new stake in Home Depot during the fourth quarter valued at $1,793,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

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Home Depot Price Performance

NYSE:HD traded up $5.73 during trading hours on Wednesday, reaching $371.25. The company had a trading volume of 3,108,791 shares, compared to its average volume of 3,446,411. 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 stock has a 50-day moving average of $388.06 and a two-hundred day moving average of $398.84. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a market capitalization of $369.03 billion, a PE ratio of 25.22, a PEG ratio of 4.03 and a beta of 1.08.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts' expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $2.82 EPS. Analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. This is an increase from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's payout ratio is presently 61.66%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HD shares. Truist Financial cut their price target on Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Guggenheim reissued a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a report on Monday, February 10th. KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Finally, Robert W. Baird reduced their price target on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $435.85.

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.