Granite Investment Partners LLC Has $4.10 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HD. Empirical Finance LLC increased its position in Home Depot by 3.3% in the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after acquiring an additional 1,195 shares during the period. Commonwealth Retirement Investments LLC raised its position in Home Depot by 5.5% during the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after purchasing an additional 965 shares during the last quarter. Leeward Financial Partners LLC lifted its holdings in Home Depot by 7.3% during the 1st quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock worth $4,001,000 after buying an additional 711 shares during the period. Sanibel Captiva Trust Company Inc. bought a new stake in shares of Home Depot in the 4th quarter valued at about $88,708,000. Finally, Johnson & White Wealth Management LLC increased its stake in shares of Home Depot by 6.2% in the first quarter. Johnson & White Wealth Management LLC now owns 4,200 shares of the home improvement retailer’s stock valued at $1,611,000 after buying an additional 247 shares during the period. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Stifel Nicolaus decreased their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Loop Capital boosted their target price on shares of Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday. Finally, StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $389.04.

Home Depot Stock Down 0.1 %

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

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

Home Depot Dividend Announcement

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