Wellington Management Group LLP Lowers Position in The Home Depot, Inc. (NYSE:HD)

Wellington Management Group LLP trimmed its position in The Home Depot, Inc. (NYSE:HD) by 18.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,848,584 shares of the home improvement retailer’s stock after selling 1,594,980 shares during the period. Wellington Management Group LLP’s holdings in Home Depot were worth $2,664,031,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HD. O Shaughnessy Asset Management LLC increased its stake in shares of Home Depot by 11.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 176,023 shares of the home improvement retailer’s stock worth $68,471,000 after acquiring an additional 17,615 shares in the last quarter. Bcwm LLC purchased a new stake in Home Depot in the fourth quarter worth about $10,286,000. Joseph Group Capital Management increased its stake in shares of Home Depot by 10.1% during the fourth quarter. Joseph Group Capital Management now owns 12,026 shares of the home improvement retailer’s stock valued at $4,678,000 after purchasing an additional 1,103 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Home Depot by 1.5% during the fourth quarter. California Public Employees Retirement System now owns 2,494,928 shares of the home improvement retailer’s stock valued at $970,502,000 after purchasing an additional 36,876 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Home Depot in the 4th quarter worth approximately $934,000. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial reduced their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada decreased their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Wedbush reiterated an “outperform” rating and set a $440.00 target price 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Price Performance

Shares of NYSE HD opened at $357.86 on Monday. 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 capitalization of $355.72 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09. The firm’s 50 day simple moving average is $389.98 and its 200-day simple moving average is $398.99. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

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

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

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.