Granite Investment Partners LLC Acquires 6,035 Shares of The Home Depot, Inc. $HD

Granite Investment Partners LLC lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 25.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 29,333 shares of the home improvement retailer’s stock after purchasing an additional 6,035 shares during the period. Granite Investment Partners LLC’s holdings in Home Depot were worth $9,647,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parvin Asset Management LLC increased its stake in Home Depot by 110.0% in the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock worth $26,000 after purchasing an additional 33 shares during the period. Advocate Investing Services LLC bought a new position in shares of Home Depot in the fourth quarter worth about $25,000. Key Capital Management INC bought a new position in shares of Home Depot in the fourth quarter worth about $28,000. Cache Advisors LLC purchased a new position in Home Depot in the 1st quarter worth about $27,000. Finally, Imprint Wealth LLC purchased a new position in Home Depot in the 3rd quarter worth about $34,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Down 2.6%

Shares of Home Depot stock opened at $336.34 on Thursday. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.04 and a quick ratio of 0.28. The stock has a market cap of $335.37 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 3.99 and a beta of 0.95. The firm’s 50-day moving average is $324.45 and its two-hundred day moving average is $345.52. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 EPS for the quarter, beating the consensus estimate of $3.41 by $0.02. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The business had revenue of $41.77 billion during the quarter, compared to analyst estimates of $41.59 billion. During the same quarter in the previous year, the business posted $3.56 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were paid a $2.33 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a yield of 2.8%. Home Depot’s payout ratio is 66.19%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group lowered their price objective on shares of Home Depot from $450.00 to $430.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. HSBC decreased their price target on shares of Home Depot from $392.00 to $310.00 and set a “hold” rating for the company in a research note on Wednesday, May 20th. Evercore lowered their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, May 20th. Sanford C. Bernstein reissued a “market perform” rating and issued a $346.00 price objective on shares of Home Depot in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group reduced their price objective on Home Depot from $361.00 to $360.00 and set a “buy” rating on the stock in a report on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $371.71.

About Home Depot

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.