Oppenheimer & Co. Inc. Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Oppenheimer & Co. Inc. grew its stake in The Home Depot, Inc. (NYSE:HD) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,967 shares of the home improvement retailer’s stock after purchasing an additional 4,757 shares during the quarter. Home Depot makes up 0.7% of Oppenheimer & Co. Inc.’s holdings, making the stock its 17th biggest position. Oppenheimer & Co. Inc.’s holdings in Home Depot were worth $47,998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Park Capital Management LLC WI boosted its holdings in Home Depot by 4.0% in the 1st quarter. Park Capital Management LLC WI now owns 2,882 shares of the home improvement retailer’s stock worth $1,056,000 after buying an additional 112 shares during the last quarter. Stiles Financial Services Inc lifted its position in shares of Home Depot by 6.3% in the first quarter. Stiles Financial Services Inc now owns 9,512 shares of the home improvement retailer’s stock valued at $3,487,000 after acquiring an additional 566 shares in the last quarter. Centerpoint Advisory Group lifted its position in shares of Home Depot by 3.8% in the first quarter. Centerpoint Advisory Group now owns 3,137 shares of the home improvement retailer’s stock valued at $1,150,000 after acquiring an additional 116 shares in the last quarter. Prairie Wealth Advisors Inc. boosted its stake in shares of Home Depot by 1.8% in the first quarter. Prairie Wealth Advisors Inc. now owns 2,554 shares of the home improvement retailer’s stock worth $936,000 after acquiring an additional 45 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC increased its position in shares of Home Depot by 21.2% during the first quarter. Ridgecrest Wealth Partners LLC now owns 1,712 shares of the home improvement retailer’s stock worth $628,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HD. Jefferies Financial Group reduced their price objective on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Truist Financial upped their price objective on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Gordon Haskett raised their target price on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president now owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $350.21 on Monday. The firm has a 50-day simple moving average of $362.65 and a two-hundred day simple moving average of $379.42. The stock has a market cap of $348.44 billion, a PE ratio of 23.76, a P/E/G ratio of 3.32 and a beta of 1.02. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.63 EPS. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.63%. Home Depot’s dividend payout ratio is presently 62.42%.

Home Depot 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.