Stone Summit Wealth LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

Stone Summit Wealth LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,562 shares of the home improvement retailer’s stock after selling 87 shares during the period. Stone Summit Wealth LLC’s holdings in Home Depot were worth $2,553,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Pegasus Asset Management Inc. boosted its holdings in Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after acquiring an additional 86 shares during the period. Pensionfund Sabic lifted its position in shares of Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares during the last quarter. Swedbank AB boosted its stake in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares during the period. Wedmont Private Capital grew its holdings in shares of Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares during the last quarter. Finally, Johnson & White Wealth Management LLC purchased a new position in Home Depot in the 4th quarter worth about $1,793,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Mizuho boosted their price target on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Truist Financial raised their price objective on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Finally, TD Cowen raised their price target on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $428.78.

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 in the last ninety days. Company insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of HD stock opened at $414.25 on Tuesday. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market capitalization of $411.50 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 4.22 and a beta of 1.05. The stock’s 50-day simple moving average is $406.14 and its 200-day simple moving average is $394.55.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.81 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

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.