Granite Group Advisors LLC Trims Holdings in The Home Depot, Inc. (NYSE:HD)

Granite Group Advisors LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,701 shares of the home improvement retailer’s stock after selling 71 shares during the period. Home Depot makes up about 1.7% of Granite Group Advisors LLC’s portfolio, making the stock its 9th biggest position. Granite Group Advisors LLC’s holdings in Home Depot were worth $2,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Abacus Wealth Partners LLC lifted its stake in Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after purchasing an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its position in shares of Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after buying an additional 25 shares during the last quarter. Ruedi Wealth Management Inc. boosted 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 in the last quarter. Acorn Creek Capital LLC grew its position in shares of Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after buying an additional 28 shares during the last quarter. Finally, Consolidated Portfolio Review Corp raised its stake in Home Depot by 1.9% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock worth $617,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.8 %

Shares of NYSE:HD traded up $3.37 during midday trading on Friday, reaching $402.81. The company’s stock had a trading volume of 389,751 shares, compared to its average volume of 3,355,475. The firm has a market cap of $400.11 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 2.74 and a beta of 1.01. The business has a 50 day moving average price of $393.80 and a 200 day moving average price of $363.10. The Home Depot, Inc. has a 1 year low of $286.79 and a 1 year high of $421.56. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The business 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 733.61%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $4.65 earnings per share. Research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm 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 annualized dividend and a yield of 2.23%. Home Depot’s dividend payout ratio is currently 60.57%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Jefferies Financial Group initiated coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target on the stock. Piper Sandler upped their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. TD Cowen raised their price objective on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $420.04.

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.