Oppenheimer Asset Management Inc. Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Oppenheimer Asset Management Inc. cut its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 8.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,152 shares of the home improvement retailer's stock after selling 9,736 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Home Depot were worth $36,338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Park Capital Management LLC WI lifted its position in Home Depot by 4.0% in the first quarter. Park Capital Management LLC WI now owns 2,882 shares of the home improvement retailer's stock valued at $1,056,000 after acquiring an additional 112 shares during the last quarter. Stiles Financial Services Inc increased its stake in 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 purchasing an additional 566 shares during the period. Centerpoint Advisory Group increased its stake in 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 purchasing an additional 116 shares during the period. Prairie Wealth Advisors Inc. increased its stake in 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 valued at $936,000 after purchasing an additional 45 shares during the period. Finally, Ridgecrest Wealth Partners LLC increased its stake in Home Depot by 21.2% in the first quarter. Ridgecrest Wealth Partners LLC now owns 1,712 shares of the home improvement retailer's stock valued at $628,000 after purchasing an additional 300 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

HD traded up $3.57 on Tuesday, hitting $360.53. 4,088,327 shares of the company were exchanged, compared to its average volume of 3,425,237. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The business's fifty day moving average is $362.79 and its 200 day moving average is $378.77. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a market capitalization of $358.70 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 3.39 and a beta of 1.02.

Home Depot (NYSE:HD - Get Free Report) last issued 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). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the previous year, the company posted $3.63 earnings per share. The company's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HD shares. Jefferies Financial Group dropped their price objective on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Guggenheim restated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, May 21st. DA Davidson dropped their price objective on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Gordon Haskett lifted their price objective on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, TD Securities lowered shares of Home Depot to a "buy" rating in a research note on Monday, June 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $426.77.

Insider Buying and Selling at Home Depot

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

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.