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

Wellington Management Group LLP lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 18.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the 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.

Several other institutional investors and hedge funds have also modified their holdings of the business. O Shaughnessy Asset Management LLC raised its position in shares of Home Depot by 11.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 176,023 shares of the home improvement retailer’s stock valued at $68,471,000 after buying an additional 17,615 shares in the last quarter. Bcwm LLC acquired a new position in Home Depot in the 4th quarter valued at $10,286,000. Joseph Group Capital Management lifted its position in shares of Home Depot by 10.1% during the 4th quarter. Joseph Group Capital Management now owns 12,026 shares of the home improvement retailer’s stock valued at $4,678,000 after acquiring an additional 1,103 shares during the period. California Public Employees Retirement System grew its holdings in shares of Home Depot by 1.5% during the 4th quarter. California Public Employees Retirement System now owns 2,494,928 shares of the home improvement retailer’s stock worth $970,502,000 after purchasing an additional 36,876 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Home Depot during the 4th quarter worth $934,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HD has been the subject of several analyst reports. Piper Sandler dropped their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Price Performance

HD stock opened at $357.86 on Monday. The firm has a 50 day simple moving average of $389.98 and a two-hundred day simple moving average of $398.99. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market cap of $355.72 billion, a PE ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.82 EPS. On average, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.57%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is presently 61.66%.

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.