The Home Depot, Inc. (NYSE:HD) Shares Bought by Summit Global Investments

Summit Global Investments lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 71.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,113 shares of the home improvement retailer’s stock after purchasing an additional 7,953 shares during the period. Summit Global Investments’ holdings in Home Depot were worth $7,435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. K.J. Harrison & Partners Inc boosted its holdings in shares of Home Depot by 65.2% in 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 boosted its holdings in shares of Home Depot by 19.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after buying an additional 3,873 shares during the period. Pensionfund Sabic boosted its holdings in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after buying an additional 3,800 shares during the period. Swedbank AB boosted its holdings in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares during the period. Finally, Wedmont Private Capital boosted its holdings 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 period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HD has been the subject of several research reports. Piper Sandler decreased their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Robert W. Baird decreased their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Trading Down 1.0 %

Shares of HD stock opened at $352.12 on Friday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The firm’s fifty day simple moving average is $393.97 and its 200 day simple moving average is $398.66. The firm has a market capitalization of $349.78 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the firm posted $2.82 earnings per share. Home Depot’s revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.61%. 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 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.