Summit Financial LLC Grows Position in The Home Depot, Inc. (NYSE:HD)

Summit Financial LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 17.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 24,129 shares of the home improvement retailer’s stock after acquiring an additional 3,555 shares during the period. Summit Financial LLC’s holdings in Home Depot were worth $9,386,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Synergy Asset Management LLC purchased a new stake in Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot during the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the 4th quarter worth $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot in the 3rd quarter worth $41,000. Finally, Marshall Investment Management LLC purchased a new position in Home Depot during the fourth quarter valued at $41,000. 70.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the stock from $356.00 to $410.00 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. Robert W. Baird decreased their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Nine investment 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 stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Trading Down 1.3 %

NYSE HD opened at $357.86 on Monday. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company’s 50-day moving average price is $389.98 and its 200-day moving average price is $398.99. The stock has a market cap of $355.72 billion, a PE ratio of 24.31, a PEG 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 issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.82 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis 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 currently 61.66%.

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.