Grandfield & Dodd LLC Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Grandfield & Dodd LLC grew its stake in The Home Depot, Inc. (NYSE:HD) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,318 shares of the home improvement retailer’s stock after buying an additional 78 shares during the period. Grandfield & Dodd LLC’s holdings in Home Depot were worth $1,949,000 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. Navigoe LLC purchased a new position in shares of Home Depot in the fourth quarter worth $29,000. Abound Financial LLC acquired a new stake in shares of Home Depot in the first quarter worth $31,000. Iron Horse Wealth Management LLC increased its stake in shares of Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after acquiring an additional 46 shares during the period. Quarry LP increased its stake in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $359.19 on Wednesday. The company’s 50-day moving average price is $366.31 and its 200-day moving average price is $375.02. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The company has a market cap of $357.37 billion, a P/E ratio of 24.37, a P/E/G ratio of 3.52 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.63 earnings per share. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president directly owned 7,951 shares of the company’s stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of research reports. Piper Sandler cut their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Mizuho cut their price objective on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Wells Fargo & Company set a $420.00 price objective on shares of Home Depot and gave the stock an “overweight” rating in a research note on Monday, June 30th. Finally, Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.