The Home Depot, Inc. $HD Shares Bought by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 8.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,638 shares of the home improvement retailer’s stock after purchasing an additional 1,822 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Home Depot were worth $8,297,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Legend Financial Advisors Inc. acquired a new stake in shares of Home Depot in the 2nd quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new stake in Home Depot in the second quarter valued at $35,000. Iron Horse Wealth Management LLC raised its stake in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after buying an additional 46 shares in the last quarter. Global X Japan Co. Ltd. purchased a new stake in Home Depot during the 2nd quarter worth about $40,000. Finally, GFG Capital LLC acquired a new position in shares of Home Depot during the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the topic of several research analyst reports. Stifel Nicolaus raised their target price on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a research report on Monday, August 18th. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Truist Financial dropped their target price on shares of Home Depot from $454.00 to $421.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Finally, DA Davidson reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $434.82.

Insider Activity

In other Home Depot news, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the sale, the executive vice president directly owned 24,235 shares in the company, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Angie Brown sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the transaction, the executive vice president owned 3,837 shares of the company’s stock, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 48,835 shares of company stock valued at $19,623,432 in the last 90 days. Insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $370.71 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a market cap of $369.00 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock has a 50 day simple moving average of $397.28 and a 200-day simple moving average of $381.27.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the previous year, the firm posted $4.60 earnings per share. Home Depot’s revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.5%. Home Depot’s dividend payout ratio is currently 62.50%.

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.