The Home Depot, Inc. $HD Shares Acquired by Granite Bay Wealth Management LLC

Key Points

• Granite Bay Wealth Management boosted its Home Depot stake by 20.2% in the fourth quarter, buying 3,527 more shares and bringing its holdings to 20,986 shares worth about $7.2 million.
• Home Depot reported quarterly EPS of $2.72, topping estimates, while revenue of $38.2 billion also came in slightly above expectations despite declining 3.8% year over year.
• The company raised its quarterly dividend to $2.33 per share from $2.30, and analysts remain generally constructive with an average rating of Moderate Buy and a consensus target price of $405.69.

Granite Bay Wealth Management LLC lifted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 20.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,986 shares of the home improvement retailer's stock after buying an additional 3,527 shares during the period. Home Depot makes up approximately 1.7% of Granite Bay Wealth Management LLC's portfolio, making the stock its 25th largest position. Granite Bay Wealth Management LLC's holdings in Home Depot were worth $7,222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HD. Brighton Jones LLC increased its holdings in shares of Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after buying an additional 7,203 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Home Depot by 7.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,598 shares of the home improvement retailer's stock worth $952,000 after buying an additional 173 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Home Depot by 14.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 11,587 shares of the home improvement retailer's stock worth $4,248,000 after buying an additional 1,433 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Home Depot in the 2nd quarter valued at approximately $1,773,000. Finally, Financial Advisors Network Inc. increased its holdings in Home Depot by 11.3% in the 2nd quarter. Financial Advisors Network Inc. now owns 2,368 shares of the home improvement retailer's stock valued at $868,000 after purchasing an additional 241 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Performance

Shares of HD stock opened at $304.46 on Friday. The company has a quick ratio of 0.26, a current ratio of 1.06 and a debt-to-equity ratio of 3.62. The Home Depot, Inc. has a 52 week low of $299.27 and a 52 week high of $426.75. The stock has a market capitalization of $303.25 billion, a PE ratio of 21.40, a P/E/G ratio of 3.49 and a beta of 1.00. The firm has a 50 day moving average of $333.21 and a two-hundred day moving average of $354.79.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The home improvement retailer reported $2.72 EPS for the quarter, beating the consensus estimate of $2.52 by $0.20. Home Depot had a net margin of 8.60% and a return on equity of 134.32%. The company had revenue of $38.20 billion during the quarter, compared to analysts' expectations of $38.01 billion. During the same quarter last year, the company posted $3.13 EPS. The firm's revenue was down 3.8% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. On average, research analysts predict that The Home Depot, Inc. will post 15.03 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th were given a $2.33 dividend. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $9.32 annualized dividend and a yield of 3.1%. This is a boost from Home Depot's previous quarterly dividend of $2.30. Home Depot's dividend payout ratio is 65.50%.

Insider Buying and Selling

In other Home Depot news, CFO Richard V. Mcphail sold 2,550 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $368.89, for a total value of $940,669.50. Following the completion of the transaction, the chief financial officer owned 44,566 shares of the company's stock, valued at $16,439,951.74. This trade represents a 5.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HD shares. Jefferies Financial Group lifted their target price on shares of Home Depot from $424.00 to $454.00 and gave the company a "buy" rating in a report on Tuesday, February 24th. Sanford C. Bernstein dropped their target price on shares of Home Depot from $390.00 to $365.00 and set a "market perform" rating for the company in a report on Thursday. Royal Bank Of Canada lifted their target price on shares of Home Depot from $363.00 to $377.00 and gave the company a "sector perform" rating in a report on Wednesday, February 25th. Bank of America started coverage on shares of Home Depot in a report on Tuesday, May 5th. They issued a "buy" rating and a $374.00 target price for the company. Finally, KeyCorp reiterated a "sector weight" rating on shares of Home Depot in a report on Wednesday, February 25th. Twenty analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $405.69.

Key Home Depot News

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Telsey Advisory reiterated its Buy rating on Home Depot, adding to the view that the company remains a quality name ahead of earnings. Telsey Advisory Sticks to Their Buy Rating for Home Depot (HD)
• Positive Sentiment: Several market comments pointed to improving spring demand, stronger Pro customer activity, and continued big-ticket sales momentum, which could help offset housing-market weakness. Analyst Reaffirms Buy on Home Depot, Citing Resilient Spring Demand, Pro Strength, and Big-Ticket Sales Momentum
• Positive Sentiment: Mortgage rates moved to five-week highs, but reports noted that homebuyers are still returning, which is a constructive sign for home-improvement demand and HD’s long-term sales outlook. Mortgage Rates Hit Five-Week Highs—But Homebuyers Are Returning, Boosting Home Depot, Lowe's And Other Builders
• Neutral Sentiment: Investors are focused on Home Depot’s upcoming first-quarter earnings on May 19, with analysts watching whether sales growth, Pro demand, and digital tools can offset continued pressure from the weak housing market. Home Depot to Post Q1 Earnings: Is Now the Right Time to Invest?
• Neutral Sentiment: Wall Street cut some price targets, including Sanford C. Bernstein and Truist, but both firms kept constructive ratings overall, suggesting valuation concerns rather than a major change in the long-term outlook. Price target updates on Home Depot
• Negative Sentiment: Home Depot has been hit by a pre-earnings pullback as investors worry that housing turnover remains too weak to drive a near-term acceleration in DIY spending. Blue-Chip Stock Seeing a Pre-Earnings Pullback
• Negative Sentiment: Broader housing-sector weakness continues to weigh on sentiment, with analysts noting that Home Depot’s business is sensitive to slower housing turnover and higher rates. Jim Cramer on Home Depot: “It Needs Housing Turnover”

Home Depot Profile

The Home Depot, Inc NYSE: HD is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot's core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.