Granite Group Advisors LLC Has $2.54 Million Stake in The Home Depot, Inc. (NYSE:HD)

Granite Group Advisors LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,537 shares of the home improvement retailer’s stock after selling 164 shares during the quarter. Home Depot accounts for approximately 1.6% of Granite Group Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Granite Group Advisors LLC’s holdings in Home Depot were worth $2,543,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Drive Wealth Management LLC boosted its position in shares of Home Depot by 2.0% in the fourth quarter. Drive Wealth Management LLC now owns 3,933 shares of the home improvement retailer’s stock valued at $1,530,000 after acquiring an additional 76 shares during the period. Legacy Financial Group LLC bought a new stake in Home Depot during the fourth quarter worth about $588,000. Tennessee Valley Asset Management Partners lifted its position in Home Depot by 4.1% during the fourth quarter. Tennessee Valley Asset Management Partners now owns 3,488 shares of the home improvement retailer’s stock worth $1,357,000 after purchasing an additional 136 shares during the period. Peak Financial Management Inc. bought a new stake in Home Depot during the fourth quarter worth about $230,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Home Depot by 8.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 18,027 shares of the home improvement retailer’s stock worth $7,012,000 after purchasing an additional 1,394 shares during the period. Institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 in the last ninety days. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HD. TD Cowen upped 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. Evercore ISI upped their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Wells Fargo & Company upped their price objective on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

NYSE:HD opened at $418.83 on Wednesday. The company has a market capitalization of $416.04 billion, a PE ratio of 28.45, a P/E/G ratio of 4.32 and a beta of 1.05. The company has a 50 day simple moving average of $407.42 and a two-hundred day simple moving average of $391.36. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.81 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

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.