Summit Financial Wealth Advisors LLC Has $875,000 Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Summit Financial Wealth Advisors LLC boosted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 179.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,141 shares of the home improvement retailer's stock after acquiring an additional 1,375 shares during the period. Summit Financial Wealth Advisors LLC's holdings in Home Depot were worth $875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of HD. Vanguard Group Inc. boosted its position in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after buying an additional 875,836 shares during the period. Geode Capital Management LLC raised its holdings in shares of Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock valued at $8,525,046,000 after purchasing an additional 257,036 shares during the last quarter. Norges Bank bought a new position in shares of Home Depot during the 4th quarter valued at $5,032,910,000. Fisher Asset Management LLC grew its stake in shares of Home Depot by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer's stock valued at $3,715,668,000 after purchasing an additional 125,441 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in Home Depot by 5.5% during the fourth quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer's stock valued at $3,521,173,000 after buying an additional 468,203 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Home Depot Stock Up 0.4 %

HD stock traded up $1.59 during trading hours on Monday, hitting $355.45. The company's stock had a trading volume of 1,127,746 shares, compared to its average volume of 3,480,448. The company has a market capitalization of $353.33 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock has a 50 day moving average price of $375.29 and a two-hundred day moving average price of $395.97. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the company earned $2.82 EPS. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's dividend payout ratio is 61.66%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HD shares. Wells Fargo & Company boosted their price objective on Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and increased their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, KGI Securities raised Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $434.08.

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.