The Home Depot, Inc. (NYSE:HD) Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 12.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,816 shares of the home improvement retailer's stock after selling 3,014 shares during the quarter. Summit Investment Advisors Inc.'s holdings in Home Depot were worth $8,097,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. K.J. Harrison & Partners Inc boosted its stake 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 worth $3,535,000 after buying an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC grew its position in Home Depot by 19.5% in 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 acquiring an additional 3,873 shares during the last quarter. Pensionfund Sabic grew its position in Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock valued at $4,357,000 after acquiring an additional 3,800 shares during the last quarter. Wedmont Private Capital lifted its position in shares of Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer's stock worth $5,291,000 after purchasing an additional 1,506 shares during the last quarter. Finally, Disciplined Investors L.L.C. purchased a new stake in shares of Home Depot during the fourth quarter valued at $409,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

HD has been the topic of several research reports. KGI Securities upgraded Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Royal Bank of Canada cut their price objective on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, Piper Sandler decreased their target price 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. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $434.08.

Home Depot Trading Up 1.1 %

NYSE HD traded up $4.06 during mid-day trading on Tuesday, hitting $361.26. The company's stock had a trading volume of 188,939 shares, compared to its average volume of 3,474,445. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $359.10 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The stock's fifty day simple moving average is $374.14 and its two-hundred day simple moving average is $395.67. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

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

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Home Depot's previous quarterly dividend of $2.25. Home Depot's payout ratio is 61.66%.

Home Depot Company Profile

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.