The Home Depot, Inc. (NYSE:HD) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 29.5% in the third quarter, HoldingsChannel.com reports. The firm owned 779,718 shares of the home improvement retailer’s stock after acquiring an additional 177,470 shares during the quarter. Home Depot accounts for about 0.6% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 23rd largest holding. Assenagon Asset Management S.A.’s holdings in Home Depot were worth $315,942,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Home Depot by 51,250.1% during the third 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 buying an additional 8,762,735 shares during the period. Wulff Hansen & CO. lifted 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 worth $509,081,000 after acquiring an additional 1,474,459 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of Home Depot during the 1st quarter worth approximately $513,016,000. Price T Rowe Associates Inc. MD increased its holdings in Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Home Depot during the first quarter worth $301,364,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HD has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Oppenheimer increased their price target on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Wednesday, October 2nd. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their price target for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, Piper Sandler upped their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $412.00.

Home Depot Stock Performance

Shares of Home Depot stock opened at $398.97 on Friday. The firm has a market cap of $396.29 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56. The firm’s 50-day simple moving average is $389.08 and its 200-day simple moving average is $359.73. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $4.65 earnings per share. Equities analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.26%. Home Depot’s dividend payout ratio is currently 60.57%.

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.