Summit Securities Group LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Summit Securities Group LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,400 shares of the home improvement retailer's stock, valued at approximately $934,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in HD. SYM FINANCIAL Corp lifted its holdings in Home Depot by 17.8% during the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer's stock worth $777,000 after purchasing an additional 289 shares during the last quarter. Principal Financial Group Inc. increased its position in Home Depot by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock worth $596,140,000 after buying an additional 141,915 shares during the period. United Bank lifted its holdings in shares of Home Depot by 4.2% during the third quarter. United Bank now owns 4,458 shares of the home improvement retailer's stock worth $1,806,000 after buying an additional 181 shares in the last quarter. Algert Global LLC bought a new stake in shares of Home Depot in the third quarter valued at about $649,000. Finally, Northwest & Ethical Investments L.P. grew its stake in shares of Home Depot by 186.6% in the third quarter. Northwest & Ethical Investments L.P. now owns 6,605 shares of the home improvement retailer's stock valued at $2,676,000 after acquiring an additional 4,300 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Down 0.4 %

Shares of Home Depot stock traded down $1.53 on Tuesday, reaching $364.96. 2,749,081 shares of the company's stock were exchanged, compared to its average volume of 3,451,009. 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 52 week low of $323.77 and a 52 week high of $439.37. The firm's 50-day moving average is $389.13 and its two-hundred day moving average is $398.94. The company has a market capitalization of $362.78 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

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Home Depot (NYSE:HD - Get Free Report) last posted its quarterly 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 firm 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 revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.82 earnings per share. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Thursday, March 13th. This is a boost from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio (DPR) is 61.66%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HD. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Truist Financial dropped their price objective on Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Wedbush reiterated an "outperform" rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and lifted their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, KGI Securities raised shares of Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $435.85.

Home Depot 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.