Summit Financial LLC Grows Position in The Home Depot, Inc. (NYSE:HD)

Summit Financial LLC increased its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 17.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,129 shares of the home improvement retailer's stock after acquiring an additional 3,555 shares during the quarter. Summit Financial LLC's holdings in Home Depot were worth $9,386,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc lifted its position in Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock valued at $3,535,000 after acquiring an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock valued at $9,242,000 after purchasing an additional 3,873 shares during the last quarter. Pensionfund Sabic boosted its position in shares of Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock worth $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Wedmont Private Capital grew its stake in Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer's stock worth $5,291,000 after buying an additional 1,506 shares during the last quarter. Finally, Johnson & White Wealth Management LLC purchased a new position in Home Depot during the 4th quarter worth $1,793,000. 70.86% of the stock is currently owned by institutional investors.

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Home Depot Trading Up 1.6 %

NYSE:HD traded up $5.73 on Wednesday, hitting $371.25. The stock had a trading volume of 3,168,296 shares, compared to its average volume of 3,446,508. The company has a fifty day moving average price of $388.06 and a two-hundred day moving average price of $398.84. The stock has a market cap of $369.03 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 4.03 and a beta of 1.08. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion during the quarter, compared to analysts' expectations of $39.15 billion. During the same period in the prior year, the business posted $2.82 EPS. The company's revenue was up 14.1% compared to the same quarter last year. Equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is 61.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Guggenheim reaffirmed a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada reduced their target price on Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Truist Financial cut their price objective on Home Depot from $467.00 to $437.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. KGI Securities raised Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Finally, Robert W. Baird cut their price target on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $435.85.

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.