OFI Invest Asset Management Acquires New Holdings in The Home Depot, Inc. (NYSE:HD)

OFI Invest Asset Management purchased a new position in The Home Depot, Inc. (NYSE:HD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 167,228 shares of the home improvement retailer's stock, valued at approximately $62,820,000. Home Depot accounts for approximately 1.5% of OFI Invest Asset Management's investment portfolio, making the stock its 13th biggest position.

A number of other large investors have also bought and sold shares of the stock. Coordinated Financial Services Inc. acquired a new stake in Home Depot in the fourth quarter worth $1,001,000. Amundi grew its holdings in Home Depot by 8.6% in the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer's stock worth $2,925,498,000 after purchasing an additional 599,490 shares during the period. Fairfield Financial Advisors LTD grew its holdings in Home Depot by 67.5% in the fourth quarter. Fairfield Financial Advisors LTD now owns 402 shares of the home improvement retailer's stock worth $156,000 after purchasing an additional 162 shares during the period. Naviter Wealth LLC grew its holdings in Home Depot by 39.3% in the fourth quarter. Naviter Wealth LLC now owns 11,150 shares of the home improvement retailer's stock worth $4,337,000 after purchasing an additional 3,146 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in Home Depot in the fourth quarter worth $261,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HD shares. Robert W. Baird reduced their price target on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company raised their price objective 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. KGI Securities raised shares of Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Evercore ISI raised their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Finally, Bank of America raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $436.50.

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Home Depot Stock Performance

NYSE HD traded down $5.08 during trading hours on Friday, reaching $376.66. 4,572,916 shares of the company were exchanged, compared to its average volume of 3,351,697. The stock has a market capitalization of $374.16 billion, a P/E ratio of 25.59, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business's 50 day simple moving average is $400.21 and its 200-day simple moving average is $400.02. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

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

Home Depot Increases Dividend

The firm also recently announced 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. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.44%. Home Depot's dividend payout ratio (DPR) is presently 61.66%.

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.