Jennison Associates LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Jennison Associates LLC reduced its position in The Home Depot, Inc. (NYSE:HD) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,990,169 shares of the home improvement retailer’s stock after selling 208,273 shares during the quarter. Jennison Associates LLC owned about 0.20% of Home Depot worth $806,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the second quarter valued at $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the second quarter valued at $33,000. Denver PWM LLC purchased a new stake in shares of Home Depot during the second quarter valued at $40,000. Livelsberger Financial Advisory purchased a new stake in Home Depot in the third quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Home Depot in the second quarter valued at $47,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by company insiders.

Home Depot Stock Performance

NYSE:HD opened at $406.88 on Wednesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a market capitalization of $404.15 billion, a P/E ratio of 27.64, a PEG ratio of 2.84 and a beta of 1.01. The company has a 50 day moving average price of $401.13 and a 200 day moving average price of $367.78. The Home Depot, Inc. has a fifty-two week low of $302.34 and a fifty-two week high of $421.56.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $3.81 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

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

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Melius Research started coverage on shares of Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective for the company. Barclays upped their price objective on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Truist Financial upped their price objective on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.