Oppenheimer & Co. Inc. Reduces Stake in The Home Depot, Inc. (NYSE:HD)

Oppenheimer & Co. Inc. trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,210 shares of the home improvement retailer’s stock after selling 1,772 shares during the quarter. Home Depot makes up 0.7% of Oppenheimer & Co. Inc.’s holdings, making the stock its 18th biggest position. Oppenheimer & Co. Inc.’s holdings in Home Depot were worth $49,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the 4th quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot during the 3rd quarter valued at approximately $41,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at approximately $41,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HD. Stifel Nicolaus upped their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Mizuho upped their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company upped their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Piper Sandler decreased their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Wednesday. Nine analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Down 0.7 %

NYSE:HD opened at $390.40 on Thursday. The firm has a 50-day simple moving average of $401.17 and a two-hundred day simple moving average of $398.42. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm has a market cap of $387.81 billion, a P/E ratio of 26.52, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

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

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.36%. Home Depot’s payout ratio is currently 61.14%.

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.