Summit Securities Group LLC Makes New $934,000 Investment in The Home Depot, Inc. (NYSE:HD)

Summit Securities Group LLC bought a new stake in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,400 shares of the home improvement retailer’s stock, valued at approximately $934,000.

Several other hedge funds also recently modified their holdings of the stock. SYM FINANCIAL Corp grew its stake in Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after purchasing an additional 289 shares during the period. Principal Financial Group Inc. grew its position in Home Depot by 10.7% during the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after buying an additional 141,915 shares during the period. United Bank increased its holdings in Home Depot by 4.2% during the third quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after buying an additional 181 shares during the last quarter. Algert Global LLC bought a new stake in Home Depot in the third quarter worth about $649,000. Finally, Northwest & Ethical Investments L.P. grew its position in shares of Home Depot by 186.6% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 6,605 shares of the home improvement retailer’s stock valued at $2,676,000 after acquiring an additional 4,300 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the topic of several research analyst reports. Royal Bank of Canada dropped their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Truist Financial dropped their price target 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. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Performance

Shares of NYSE HD opened at $357.86 on Friday. The stock’s 50-day moving average is $389.98 and its 200 day moving average is $398.80. The stock has a market cap of $355.72 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. 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 announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same period in the previous year, the business posted $2.82 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is 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.