Home Depot Sees Boost from Hedge Funds Amid Rising Sales Growth

Dearborn Partners LLC has acquired 69,668 shares of Home Depot's stock, valued at approximately $22.9 million in its latest disclosure to the Securities & Exchange Commission.

The institutional investor purchased the new stake in the second quarter, as part of a broader trend of hedge funds increasing their exposure to the home improvement retailer.

Other notable investors have also added to their stakes in Home Depot during this period. Parvin Asset Management LLC, for instance, increased its holdings by 110% in the third quarter, while Zeit Capital LLC and Cache Advisors LLC both acquired new positions in the second and first quarters respectively.