Summit Financial LLC Acquires 6,644 Shares of The Home Depot, Inc. (NYSE:HD)

Summit Financial LLC boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 58.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,922 shares of the home improvement retailer’s stock after buying an additional 6,644 shares during the period. Summit Financial LLC’s holdings in Home Depot were worth $6,169,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of HD. Frank Rimerman Advisors LLC purchased a new position in Home Depot in the fourth quarter worth $27,000. Kings Path Partners LLC purchased a new position in Home Depot during the 2nd quarter worth $33,000. Burkett Financial Services LLC acquired a new position in Home Depot during the 4th quarter valued at about $38,000. A.P. Gilfoyle & Co. L.P. purchased a new stake in Home Depot in the first quarter valued at about $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in Home Depot in the fourth quarter worth about $39,000. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their target price on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. HSBC cut their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research note on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and set a $410.00 price target on shares of Home Depot in a research report on Friday, May 10th. Stifel Nicolaus decreased their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Finally, Citigroup dropped their target price on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $386.33.

Home Depot Price Performance

Shares of Home Depot stock traded up $1.44 during trading hours on Friday, reaching $368.50. 3,216,660 shares of the company’s stock were exchanged, compared to its average volume of 3,501,517. The business has a fifty day moving average of $355.21 and a two-hundred day moving average of $353.95. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The company has a market capitalization of $366.03 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 2.55 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $4.65 earnings per share. As a group, research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.44%. Home Depot’s dividend payout ratio (DPR) is 60.36%.

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.