Fmr LLC Grows Position in The Home Depot, Inc. (NYSE:HD)

Fmr LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 10.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,679,237 shares of the home improvement retailer’s stock after buying an additional 795,438 shares during the quarter. Fmr LLC owned about 0.87% of Home Depot worth $3,516,827,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its holdings in Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. Wulff Hansen & CO. raised its holdings in shares of Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Swedbank AB acquired a new position in shares of Home Depot during the first quarter worth $301,364,000. Sarasin & Partners LLP increased its holdings in Home Depot by 95.2% in the second quarter. Sarasin & Partners LLP now owns 1,139,934 shares of the home improvement retailer’s stock valued at $392,411,000 after buying an additional 556,053 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Home Depot by 79.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,172,647 shares of the home improvement retailer’s stock valued at $403,672,000 after buying an additional 519,039 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction that occurred 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 $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock worth $15,624,585 over the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on HD. DA Davidson lifted their price target on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Piper Sandler raised 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. Stifel Nicolaus boosted their price objective on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, UBS Group increased their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

Shares of HD opened at $428.67 on Tuesday. 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 company has a 50-day simple moving average of $404.17 and a 200-day simple moving average of $369.82. The Home Depot, Inc. has a 52-week low of $308.59 and a 52-week high of $430.25. The company has a market capitalization of $425.82 billion, a PE ratio of 29.12, a P/E/G ratio of 2.92 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter in the previous year, the company earned $3.81 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Equities research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share 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. Shareholders of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.10%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is 61.14%.

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.