Granite Bay Wealth Management LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Granite Bay Wealth Management LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 667 shares of the home improvement retailer’s stock, valued at approximately $230,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ruedi Wealth Management Inc. raised its holdings in shares of Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after buying an additional 27 shares during the period. Acorn Creek Capital LLC increased its stake in Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares during the period. Talisman Wealth Advisors LLC lifted its position in shares of Home Depot by 1.2% during the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after purchasing an additional 29 shares in the last quarter. LMG Wealth Partners LLC boosted its stake in shares of Home Depot by 1.7% in the second quarter. LMG Wealth Partners LLC now owns 1,709 shares of the home improvement retailer’s stock valued at $588,000 after purchasing an additional 29 shares during the period. Finally, Opes Wealth Management LLC increased its stake in Home Depot by 5.2% during the 2nd quarter. Opes Wealth Management LLC now owns 591 shares of the home improvement retailer’s stock worth $203,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on HD. Royal Bank of Canada decreased their price target on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. Daiwa America raised Home Depot to a “hold” rating in a research note on Thursday, August 15th. 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 objective for the company. DA Davidson upped their target price on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, 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 note on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $394.08.

Home Depot Trading Up 1.0 %

Shares of Home Depot stock opened at $409.21 on Wednesday. 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 company has a market capitalization of $405.78 billion, a P/E ratio of 27.45, a PEG ratio of 2.71 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $410.56. The company’s fifty day moving average is $369.92 and its two-hundred day moving average is $355.36.

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 firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.20%. Home Depot’s dividend payout ratio (DPR) is 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.