The Home Depot, Inc. (NYSE:HD) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,065 shares of the home improvement retailer’s stock after acquiring an additional 2,071 shares during the quarter. Fred Alger Management LLC’s holdings in Home Depot were worth $17,045,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Fisher Asset Management LLC lifted its stake in shares of Home Depot by 2.2% in the 3rd quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer’s stock valued at $3,819,679,000 after purchasing an additional 205,954 shares during the period. International Assets Investment Management LLC increased its holdings in Home Depot by 51,250.1% in the third 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 buying an additional 8,762,735 shares in the last quarter. FMR LLC raised its position in shares of Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after acquiring an additional 795,438 shares during the period. Legal & General Group Plc boosted its stake in shares of Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after acquiring an additional 100,139 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Home Depot by 5.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock valued at $3,253,952,000 after acquiring an additional 409,890 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 0.5 %

Shares of NYSE HD opened at $429.51 on Friday. The company has a market capitalization of $426.66 billion, a P/E ratio of 29.18, a P/E/G ratio of 2.97 and a beta of 1.01. 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 company has a 50 day simple moving average of $407.48 and a 200-day simple moving average of $371.81. The Home Depot, Inc. has a 1 year low of $308.59 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (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 company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the firm earned $3.81 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a $2.25 dividend. 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 2.10%. Home Depot’s payout ratio is currently 61.14%.

Insiders Place Their Bets

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This trade represents a 0.80 % 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 valued at $15,624,585 over the last 90 days. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HD shares. Piper Sandler increased their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Evercore ISI increased their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Barclays lifted their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Melius Research began coverage on shares of Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. Finally, Daiwa America upgraded shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $426.00.

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.