Summit Global Investments Buys 2,389 Shares of The Home Depot, Inc. (NYSE:HD)

Summit Global Investments boosted its stake in The Home Depot, Inc. (NYSE:HD) by 27.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,160 shares of the home improvement retailer’s stock after buying an additional 2,389 shares during the quarter. Summit Global Investments’ holdings in Home Depot were worth $4,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fairway Wealth LLC purchased a new position in Home Depot in the second quarter worth $25,000. Kings Path Partners LLC bought a new stake in Home Depot in the second quarter worth about $33,000. Denver PWM LLC purchased a new position in Home Depot in the second quarter valued at about $40,000. Livelsberger Financial Advisory bought a new position in shares of Home Depot during the 3rd quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot during the 2nd quarter worth approximately $47,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on HD shares. Wells Fargo & Company upped their price objective on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday. Truist Financial increased their price target on Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler boosted their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Royal Bank of Canada cut 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 report on Wednesday, August 14th. Finally, Guggenheim lifted their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $420.04.

Home Depot Stock Up 2.8 %

Shares of NYSE:HD opened at $399.41 on Friday. The Home Depot, Inc. has a 12-month low of $286.79 and a 12-month high of $421.56. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The stock’s 50-day moving average price is $393.80 and its 200-day moving average price is $363.10. The stock has a market capitalization of $396.73 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 2.74 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the firm earned $4.65 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.25%. Home Depot’s dividend payout ratio is currently 60.57%.

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.