Summit Wealth Partners LLC Increases Position in The Home Depot, Inc. $HD

Summit Wealth Partners LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 214.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,558 shares of the home improvement retailer’s stock after buying an additional 3,792 shares during the period. Summit Wealth Partners LLC’s holdings in Home Depot were worth $1,828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HD. Vanguard Group Inc. raised its stake in Home Depot by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer’s stock valued at $34,284,672,000 after acquiring an additional 1,325,748 shares during the last quarter. State Street Corp lifted its position in Home Depot by 1.8% during the 4th quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer’s stock worth $16,147,010,000 after acquiring an additional 825,164 shares during the period. Geode Capital Management LLC grew its stake in shares of Home Depot by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 23,756,142 shares of the home improvement retailer’s stock valued at $8,151,344,000 after purchasing an additional 343,153 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Home Depot by 5.6% in the 4th quarter. Bank of America Corp DE now owns 16,063,532 shares of the home improvement retailer’s stock valued at $5,527,461,000 after purchasing an additional 851,029 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Home Depot by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,471,132 shares of the home improvement retailer’s stock valued at $5,323,620,000 after purchasing an additional 1,113,114 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Trending Headlines about Home Depot

Here are the key news stories impacting Home Depot this week:

• Negative Sentiment: Wolfe Research downgraded Home Depot (HD) to Peer Perform, a move that pressured the stock and signaled more cautious expectations for the near term. Wolfe Research upgrades Target to Top Pick, downgrades Home Depot and Five Below
• Negative Sentiment: Another market note highlighted that Home Depot shares slipped after the downgrade, with investors also weighing softer housing-related demand and competitive pressure in home improvement retail. Home Depot Stock (NYSE:HD) Slips as Unlikely Dark Horse Steps Up

Home Depot Stock Down 0.6%

HD stock opened at $324.82 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23. The company’s 50-day moving average price is $322.74 and its 200 day moving average price is $345.89. The Home Depot, Inc. has a 52 week low of $289.10 and a 52 week high of $426.75. The company has a market cap of $323.88 billion, a P/E ratio of 23.07, a P/E/G ratio of 3.77 and a beta of 0.97.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.02. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The company had revenue of $41.77 billion during the quarter, compared to analysts’ expectations of $41.59 billion. During the same period last year, the company posted $3.56 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were paid a $2.33 dividend. This represents a $9.32 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, June 4th. Home Depot’s dividend payout ratio (DPR) is presently 66.19%.

Analyst Upgrades and Downgrades

HD has been the subject of several analyst reports. Telsey Advisory Group cut their price target on Home Depot from $435.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, May 20th. Truist Financial dropped their price objective on shares of Home Depot from $394.00 to $369.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Wolfe Research downgraded shares of Home Depot from an “outperform” rating to a “peer perform” rating in a research report on Tuesday. Sanford C. Bernstein restated a “market perform” rating and issued a $346.00 target price on shares of Home Depot in a research note on Wednesday, May 20th. Finally, Weiss Ratings upgraded shares of Home Depot from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Eighteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $371.71.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.