Oppenheimer Asset Management Inc. Trims Stake in The Home Depot, Inc. (NYSE:HD)

Oppenheimer Asset Management Inc. reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 6.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 108,888 shares of the home improvement retailer’s stock after selling 7,867 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Home Depot were worth $42,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Pensionfund Sabic increased its stake in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Swedbank AB increased its stake in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares in the last quarter. Wedmont Private Capital increased its stake in shares of Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares in the last quarter. Johnson & White Wealth Management LLC purchased a new stake in shares of Home Depot in the fourth quarter worth $1,793,000. Finally, Cerity Partners LLC increased its stake in shares of Home Depot by 14.3% in the third quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock worth $273,055,000 after purchasing an additional 84,062 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.7 %

Shares of HD opened at $390.40 on Thursday. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a 50-day moving average of $401.17 and a 200 day moving average of $398.42. The firm has a market capitalization of $387.81 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $2.82 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.36%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Robert W. Baird reduced their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday. Finally, Piper Sandler cut their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Company 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.