Brown Brothers Harriman & Co. Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Brown Brothers Harriman & Co. raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,821 shares of the home improvement retailer’s stock after acquiring an additional 1,282 shares during the period. Brown Brothers Harriman & Co.’s holdings in Home Depot were worth $14,515,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HD. Fisher Asset Management LLC raised its position in Home Depot by 2.2% in the third quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer’s stock worth $3,819,679,000 after acquiring an additional 205,954 shares in the last quarter. International Assets Investment Management LLC grew its stake in 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 worth $35,575,880,000 after acquiring an additional 8,762,735 shares during the period. Legal & General Group Plc grew its holdings in Home Depot by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after buying an additional 100,139 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Home Depot by 2.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after buying an additional 138,396 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Home Depot by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock valued at $1,598,316,000 after buying an additional 333,312 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE:HD opened at $420.00 on Monday. The company has a market capitalization of $417.21 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 2.92 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a fifty day moving average of $403.23 and a 200-day moving average of $369.25. The Home Depot, Inc. has a one year low of $308.31 and a one year high of $421.56.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.81 earnings per share. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.14%. Home Depot’s dividend payout ratio is 61.14%.

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction 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 completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares in the company, 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. Over the last ninety days, insiders have sold 38,188 shares of company stock valued at $15,624,585. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HD shares. Royal Bank of Canada upped their target price on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $360.00 to $455.00 in a report on Friday, November 8th. Morgan Stanley increased their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Daiwa America upgraded Home Depot to a “hold” rating in a report on Thursday, August 15th. Finally, Piper Sandler raised their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $426.00.

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.