Granite FO LLC Purchases New Shares in The Home Depot, Inc. (NYSE:HD)

Granite FO LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 724 shares of the home improvement retailer’s stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of HD. Wulff Hansen & CO. grew its position in Home Depot by 33,540.9% during the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after buying an additional 1,474,459 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of Home Depot during the 1st quarter valued at $513,016,000. Capital Research Global Investors grew its holdings in shares of Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after purchasing an additional 992,444 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares during the period. Finally, Swedbank AB bought a new stake in Home Depot during the first quarter worth about $301,364,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on HD. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research report on Thursday, September 12th. Jefferies Financial Group assumed coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target on the stock. Melius Research started coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Truist Financial lowered their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $391.88.

Home Depot Stock Up 0.7 %

Shares of NYSE:HD opened at $399.53 on Monday. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $403.54. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The business’s 50-day moving average is $368.10 and its 200-day moving average is $354.90. The company has a market capitalization of $396.18 billion, a price-to-earnings ratio of 26.80, a P/E/G ratio of 2.71 and a beta of 1.00.

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. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.65 earnings per share. Equities research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

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

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.