Summit Securities Group LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Summit Securities Group LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,400 shares of the home improvement retailer’s stock, valued at approximately $934,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Synergy Asset Management LLC acquired a new stake in shares of Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot during the fourth quarter worth about $32,000. Sellwood Investment Partners LLC bought a new position in Home Depot in the 4th quarter valued at about $39,000. Finally, NewSquare Capital LLC increased its holdings in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HD. Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Guggenheim reissued a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Truist Financial decreased their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Robert W. Baird reduced their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Trading Down 1.3 %

Shares of HD stock opened at $357.86 on Friday. The company has a market cap of $355.72 billion, a P/E ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The stock has a 50 day simple moving average of $389.98 and a two-hundred day simple moving average of $398.80. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $2.82 earnings per share. Home Depot’s revenue was up 14.1% on a year-over-year basis. Research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.57%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 61.66%.

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.