Summit Financial LLC Buys 212 Shares of The Home Depot, Inc. (NYSE:HD)

Summit Financial LLC lifted its stake in The Home Depot, Inc. (NYSE:HD) by 1.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,441 shares of the home improvement retailer’s stock after acquiring an additional 212 shares during the period. Summit Financial LLC’s holdings in Home Depot were worth $3,965,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Congress Wealth Management LLC DE raised its stake in shares of Home Depot by 3.7% in the third quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock valued at $26,725,000 after acquiring an additional 3,162 shares during the last quarter. Hartline Investment Corp grew its holdings in Home Depot by 3.0% during the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock worth $5,397,000 after acquiring an additional 460 shares during the period. Wolf Group Capital Advisors grew its holdings in Home Depot by 6.1% during the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock worth $2,604,000 after acquiring an additional 430 shares during the period. Alliance Wealth Management Group acquired a new position in shares of Home Depot in the 4th quarter valued at $253,000. Finally, Psagot Value Holdings Ltd. Israel grew its holdings in shares of Home Depot by 8.0% in the 3rd quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock valued at $819,000 after buying an additional 200 shares during the period. Institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

HD traded down $2.25 on Wednesday, reaching $331.97. The company had a trading volume of 3,184,581 shares, compared to its average volume of 3,340,787. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The stock has a market cap of $328.99 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.24 and a beta of 0.98. The company’s fifty day moving average is $363.69 and its 200 day moving average is $341.88. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. During the same quarter in the prior year, the business earned $3.30 EPS. Home Depot’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, analysts predict that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a $2.25 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a yield of 2.71%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is 59.60%.

Wall Street Analysts Forecast Growth

HD has been the subject of several research analyst reports. HSBC reissued a “reduce” rating and issued a $323.00 price target on shares of Home Depot in a report on Wednesday, April 3rd. Telsey Advisory Group boosted their price target on shares of Home Depot from $335.00 to $360.00 and gave the company a “market perform” rating in a report on Monday, April 1st. Guggenheim reaffirmed a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a research report on Friday, April 5th. Wells Fargo & Company boosted their price objective on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $370.00 price objective on shares of Home Depot in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $375.96.

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.