Oppenheimer & Co. Inc. Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Oppenheimer & Co. Inc. decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,982 shares of the home improvement retailer’s stock after selling 5,556 shares during the quarter. Home Depot accounts for about 0.8% of Oppenheimer & Co. Inc.’s investment portfolio, making the stock its 16th largest position. Oppenheimer & Co. Inc.’s holdings in Home Depot were worth $51,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Texas Capital Bank Wealth Management Services Inc lifted its holdings in Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after purchasing an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. raised its holdings in Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after acquiring an additional 86 shares during the period. Swedbank AB boosted 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 acquiring an additional 132,967 shares during the period. LGT Group Foundation grew its position in shares of Home Depot by 121.0% during the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after purchasing an additional 147,482 shares in the last quarter. Finally, CX Institutional lifted its holdings in Home Depot by 225.6% in the 3rd quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock worth $13,257,000 after purchasing an additional 22,668 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HD has been the subject of a number of research analyst reports. Evercore ISI cut their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Mizuho raised their target price on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday. Sanford C. Bernstein initiated coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target on the stock. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Finally, Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $424.67.

Home Depot Trading Up 2.1 %

HD traded up $8.55 during trading hours on Wednesday, reaching $411.63. The company’s stock had a trading volume of 149,690 shares, compared to its average volume of 3,369,029. The Home Depot, Inc. has a fifty-two week low of $300.14 and a fifty-two week high of $421.56. The business’s 50-day moving average is $396.76 and its 200-day moving average is $365.25. The stock has a market cap of $408.87 billion, a PE ratio of 27.13, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.81 earnings per share. As a group, equities research analysts predict that The Home Depot, Inc. will post 14.99 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

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.