OFI Invest Asset Management Acquires 95,118 Shares of The Home Depot, Inc. (NYSE:HD)

OFI Invest Asset Management boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 50,327.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,307 shares of the home improvement retailer’s stock after buying an additional 95,118 shares during the quarter. OFI Invest Asset Management’s holdings in Home Depot were worth $30,612,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Moss Adams Wealth Advisors LLC increased its stake in shares of Home Depot by 13.5% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 899 shares of the home improvement retailer’s stock worth $312,000 after purchasing an additional 107 shares in the last quarter. Wealth Alliance lifted its position in shares of Home Depot by 1.6% during the fourth quarter. Wealth Alliance now owns 6,314 shares of the home improvement retailer’s stock worth $2,188,000 after acquiring an additional 98 shares in the last quarter. Everence Capital Management Inc. boosted its holdings in shares of Home Depot by 18.7% in the fourth quarter. Everence Capital Management Inc. now owns 32,098 shares of the home improvement retailer’s stock worth $11,124,000 after acquiring an additional 5,060 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Home Depot by 11.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 398,888 shares of the home improvement retailer’s stock worth $138,235,000 after acquiring an additional 42,083 shares during the period. Finally, Allen Capital Group LLC grew its position in shares of Home Depot by 6.7% in the fourth quarter. Allen Capital Group LLC now owns 14,549 shares of the home improvement retailer’s stock valued at $5,042,000 after purchasing an additional 911 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.6 %

HD stock traded up $1.99 during midday trading on Friday, hitting $362.06. The company had a trading volume of 3,308,320 shares, compared to its average volume of 3,434,097. The stock has a market cap of $359.02 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.48 and a beta of 0.98. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The stock’s 50 day moving average price is $350.74 and its 200 day moving average price is $353.23.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period in the prior year, the business posted $4.65 EPS. The firm’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.49%. Home Depot’s dividend payout ratio is presently 60.36%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HD. Loop Capital decreased their price target on Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a research report on Wednesday. UBS Group increased their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial reduced their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday. Jefferies Financial Group initiated coverage on Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Finally, Stifel Nicolaus reduced their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $386.33.

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.