Blue Granite Capital LLC Has $2.29 Million Stake in Home Depot Inc (HD)

Blue Granite Capital LLC lessened its stake in Home Depot Inc (NYSE:HD) by 30.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,995 shares of the home improvement retailer’s stock after selling 6,215 shares during the period. Home Depot comprises 1.6% of Blue Granite Capital LLC’s investment portfolio, making the stock its 17th biggest position. Blue Granite Capital LLC’s holdings in Home Depot were worth $2,288,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Capital Management Corp VA raised its holdings in Home Depot by 2.2% in the 3rd quarter. Capital Management Corp VA now owns 45,503 shares of the home improvement retailer’s stock worth $7,442,000 after purchasing an additional 960 shares during the period. Nwam LLC raised its holdings in Home Depot by 69.6% in the 3rd quarter. Nwam LLC now owns 6,505 shares of the home improvement retailer’s stock worth $1,064,000 after purchasing an additional 2,670 shares during the period. State of Wisconsin Investment Board raised its holdings in Home Depot by 3.1% in the 3rd quarter. State of Wisconsin Investment Board now owns 1,762,153 shares of the home improvement retailer’s stock worth $288,218,000 after purchasing an additional 53,156 shares during the period. Polaris Greystone Financial Group LLC raised its holdings in Home Depot by 23.3% in the 3rd quarter. Polaris Greystone Financial Group LLC now owns 3,864 shares of the home improvement retailer’s stock worth $632,000 after purchasing an additional 731 shares during the period. Finally, Seatown Holdings Pte. Ltd. acquired a new position in Home Depot in the 3rd quarter worth about $5,070,000. 70.14% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on HD shares. Robert W. Baird set a $185.00 price target on Home Depot and gave the stock a “buy” rating in a report on Tuesday, November 14th. They noted that the move was a valuation call. Oppenheimer set a $178.00 target price on Home Depot and gave the company a “buy” rating in a report on Tuesday, November 14th. Bank of America increased their target price on Home Depot from $170.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Royal Bank of Canada set a $179.00 target price on Home Depot and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Credit Suisse Group set a $171.00 target price on Home Depot and gave the company a “buy” rating in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $183.28.

In other news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $183.03, for a total value of $7,576,709.88. Following the completion of the sale, the executive vice president now directly owns 29,559 shares in the company, valued at $5,410,183.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Shares of Home Depot Inc (NYSE HD) opened at $196.42 on Friday. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39. The stock has a market capitalization of $229,370.00, a P/E ratio of 27.24, a PEG ratio of 1.81 and a beta of 1.11. Home Depot Inc has a 52-week low of $133.94 and a 52-week high of $199.42.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. The business had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.53 billion. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.60 earnings per share. sell-side analysts predict that Home Depot Inc will post 7.37 EPS for the current fiscal year.

Home Depot declared that its Board of Directors has authorized a stock repurchase program on Wednesday, December 6th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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Home Depot Company Profile

The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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