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

Granite Bay Wealth Management LLC lifted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 11.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,566 shares of the home improvement retailer's stock after acquiring an additional 1,641 shares during the period. Home Depot accounts for 2.0% of Granite Bay Wealth Management LLC's holdings, making the stock its 18th largest position. Granite Bay Wealth Management LLC's holdings in Home Depot were worth $5,705,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. POM Investment Strategies LLC increased its holdings in Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer's stock valued at $824,000 after purchasing an additional 24 shares during the last quarter. Center for Financial Planning Inc. grew its position in shares of Home Depot by 0.5% during the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock worth $1,810,000 after buying an additional 24 shares during the period. Live Oak Private Wealth LLC increased its stake in shares of Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer's stock valued at $1,912,000 after acquiring an additional 25 shares during the last quarter. Mezzasalma Advisors LLC raised its position in shares of Home Depot by 4.0% in the 4th quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer's stock valued at $255,000 after acquiring an additional 25 shares during the period. Finally, Focused Wealth Management Inc boosted its stake in Home Depot by 2.4% during the 4th quarter. Focused Wealth Management Inc now owns 1,082 shares of the home improvement retailer's stock worth $421,000 after acquiring an additional 25 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president now directly owns 17,367 shares of the company's stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Home Depot Trading Down 0.9%

HD traded down $3.43 during trading on Thursday, reaching $368.97. 2,320,479 shares of the company's stock were exchanged, compared to its average volume of 3,408,067. The firm has a fifty day moving average price of $361.54 and a two-hundred day moving average price of $385.28. The stock has a market capitalization of $367.10 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a one year low of $323.93 and a one year high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the prior year, the business earned $3.63 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, June 5th. Home Depot's dividend payout ratio is presently 62.42%.

Wall Street Analysts Forecast Growth

HD has been the topic of several analyst reports. Royal Bank of Canada cut their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Guggenheim restated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Piper Sandler decreased their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. JPMorgan Chase & Co. boosted their target price on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Finally, HSBC raised Home Depot from a "reduce" rating to a "hold" rating and upped their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $426.77.

About Home Depot

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.