The Home Depot, Inc. (NYSE:HD) Stock Holdings Lowered by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,921 shares of the home improvement retailer’s stock after selling 740 shares during the period. Granite Investment Partners LLC’s holdings in Home Depot were worth $4,104,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. Fairway Wealth LLC acquired a new position in Home Depot during the 2nd quarter worth $25,000. Frank Rimerman Advisors LLC bought a new stake in Home Depot in the fourth quarter valued at $27,000. Kings Path Partners LLC acquired a new position in shares of Home Depot in the 2nd quarter worth approximately $33,000. A.P. Gilfoyle & Co. L.P. acquired a new position in Home Depot during the 1st quarter worth about $38,000. Finally, Burkett Financial Services LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $38,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Loop Capital raised their target price on shares of Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday. DA Davidson upped their price target on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Truist Financial decreased their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $389.04.

Home Depot Price Performance

NYSE:HD opened at $389.97 on Friday. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The firm has a market cap of $386.70 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 2.57 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The firm’s 50-day simple moving average is $364.95 and its 200 day simple moving average is $354.45.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the company posted $4.65 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.31%. Home Depot’s payout ratio is 60.36%.

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.