Opinicus Capital Inc. Purchases Shares of 3,417 The Home Depot, Inc. (NYSE:HD)

Opinicus Capital Inc. purchased a new stake in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,417 shares of the home improvement retailer’s stock, valued at approximately $1,184,000. Home Depot accounts for approximately 1.2% of Opinicus Capital Inc.’s portfolio, making the stock its 22nd biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Optas LLC increased its position in Home Depot by 1.7% in the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after acquiring an additional 29 shares during the period. Harvest Investment Advisors LLC increased its position in Home Depot by 0.8% in the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after acquiring an additional 30 shares during the period. Armstrong Henry H Associates Inc. increased its position in Home Depot by 0.3% in the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after acquiring an additional 30 shares during the period. CGC Financial Services LLC increased its position in Home Depot by 4.3% in the 4th quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock valued at $250,000 after acquiring an additional 30 shares during the period. Finally, Independent Investors Inc. increased its position in shares of Home Depot by 0.5% during the fourth quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock worth $2,097,000 after buying an additional 30 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Up 0.9 %

Shares of Home Depot stock traded up $3.11 during trading hours on Friday, reaching $335.09. The company’s stock had a trading volume of 2,465,262 shares, compared to its average volume of 3,779,238. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The company has a market capitalization of $332.08 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.21 and a beta of 0.98. The stock’s fifty day simple moving average is $364.77 and its two-hundred day simple moving average is $340.68. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. The company had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.30 earnings per share. On average, research analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 annualized dividend and a dividend yield of 2.69%. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is currently 59.60%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HD shares. Truist Financial reiterated a “buy” rating and set a $417.00 price objective on shares of Home Depot in a research report on Wednesday, April 17th. Wedbush increased their price objective on shares of Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. Robert W. Baird reiterated an “outperform” rating and set a $370.00 price objective on shares of Home Depot in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada increased their price objective on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $375.96.

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.