Summit Global Investments Grows Holdings in The Home Depot, Inc. (NYSE:HD)

Summit Global Investments grew its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 71.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,113 shares of the home improvement retailer's stock after acquiring an additional 7,953 shares during the quarter. Summit Global Investments' holdings in Home Depot were worth $7,435,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in HD. POM Investment Strategies LLC boosted its holdings in shares of Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer's stock valued at $824,000 after acquiring an additional 24 shares during the last quarter. Center for Financial Planning Inc. increased its holdings in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock worth $1,810,000 after acquiring an additional 24 shares in the last quarter. Insight Inv LLC lifted its stake in Home Depot by 2.0% in the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer's stock valued at $505,000 after buying an additional 25 shares in the last quarter. Marino Stram & Associates LLC raised its position in shares of Home Depot by 2.3% in the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer's stock valued at $431,000 after buying an additional 25 shares during the last quarter. Finally, Live Oak Private Wealth LLC boosted its holdings in shares of Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer's stock worth $1,912,000 after purchasing an additional 25 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

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Analyst Ratings Changes

HD has been the subject of several recent analyst reports. Wedbush reissued an "outperform" rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Robert W. Baird lowered their price target on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company increased their price objective on Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and boosted their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $435.85.

Home Depot Stock Down 0.8 %

Shares of NYSE:HD traded down $2.87 during mid-day trading on Tuesday, hitting $360.90. 2,799,540 shares of the company traded hands, compared to its average volume of 3,217,302. The firm has a market cap of $358.50 billion, a P/E ratio of 24.52, a PEG ratio of 4.03 and a beta of 1.09. 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 simple moving average is $393.46 and its 200 day simple moving average is $399.16. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.82 earnings per share. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Thursday, March 13th. Home Depot's dividend payout ratio is presently 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.