Summitry LLC Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Summitry LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 9.1% in the 4th quarter, Holdings Channel reports. The fund owned 1,231 shares of the home improvement retailer’s stock after selling 123 shares during the quarter. Summitry LLC’s holdings in Home Depot were worth $479,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in HD. Raymond James Financial Inc. purchased a new position in Home Depot in the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC lifted its stake in shares of Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after acquiring an additional 2,030,372 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after acquiring an additional 875,836 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Home Depot during the third quarter worth about $336,231,000. Finally, FMR LLC raised its holdings in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on HD. Robert W. Baird dropped their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Piper Sandler lowered their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Trading Down 0.8 %

Shares of HD stock opened at $360.90 on Wednesday. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm’s 50-day simple moving average is $392.82 and its 200-day simple moving average is $399.16. The firm has a market cap of $358.50 billion, a P/E ratio of 24.52, a PEG ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business earned $2.82 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.55%. Home Depot’s dividend payout ratio is currently 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.