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

Jennison Associates LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 8.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,812,663 shares of the home improvement retailer’s stock after selling 177,506 shares during the quarter. Jennison Associates LLC owned 0.18% of Home Depot worth $705,108,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in shares of Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Home Depot during the 3rd quarter worth approximately $336,231,000. FMR LLC grew its position in shares of Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after buying an additional 795,438 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Home Depot by 295.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after acquiring an additional 518,054 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Home Depot by 2.0% in the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after acquiring an additional 433,126 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HD. Barclays lifted their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Mizuho increased their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Morgan Stanley upped their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. DA Davidson lifted their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. One 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Transactions at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction 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 trade represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 in the last three months. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $411.79 on Wednesday. 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 firm has a market cap of $409.05 billion, a PE ratio of 27.97, a P/E/G ratio of 4.34 and a beta of 1.05. The firm has a 50 day simple moving average of $407.47 and a 200-day simple moving average of $393.07. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results 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 company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.81 EPS. On average, equities analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

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.