Home Depot Sees Increased Institutional Investment Amid Analyst Price Target Revisions

Auxano Advisors LLC made a significant new investment in Home Depot Inc. (NYSE:HD), purchasing approximately $2,135,000 worth of shares during the second quarter. The firm acquired 6,054 shares of the home improvement retailer's stock, marking a notable addition to its portfolio.

According to recent filings with the Securities & Exchange Commission, Auxano Advisors LLC is not alone in its investment in Home Depot. A number of other hedge funds and institutional investors have also made changes to their positions in the company during the past quarter.

Notably, Parvin Asset Management LLC increased its stake in Home Depot by 110% during the third quarter, while Merkkuri Wealth Advisors LLC acquired a new position in the company's shares during the first quarter. Overall, institutional investors and hedge funds currently own approximately 70.86% of Home Depot's outstanding stock.

Analysts have been following Home Depot closely, with several brokerages issuing recent price target revisions. Telsey Advisory Group decreased its price target on Home Depot from $435 to $410, while Piper Sandler cut its target from $422 to $421. Guggenheim reiterated a 'buy' rating and set a $425 price objective for the company.

Home Depot has seen its stock price fluctuate in recent months, with shares opening at $337.54 on Tuesday. The company's 52-week high is $426.75, while its current debt-to-equity ratio stands at 2.64 and its P/E ratio is 23.62.