The Home Depot, Inc. (NYSE:HD) Shares Purchased by Summit Global Investments

Summit Global Investments increased its holdings in The Home Depot, Inc. (NYSE:HD) by 579.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,502 shares of the home improvement retailer’s stock after buying an additional 21,750 shares during the quarter. Summit Global Investments’ holdings in Home Depot were worth $8,838,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HD. Keener Financial Planning LLC purchased a new position in shares of Home Depot during the 4th quarter valued at approximately $31,000. PFG Private Wealth Management LLC lifted its holdings in Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares in the last quarter. Gilfoyle & Co LLC acquired a new stake in shares of Home Depot in the 4th quarter worth $35,000. Briaud Financial Planning Inc acquired a new stake in shares of Home Depot in the 3rd quarter worth $41,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Home Depot in the 3rd quarter worth $64,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Buying and Selling

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated 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 directly owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Home Depot Price Performance

HD stock traded up $2.85 on Thursday, reaching $334.82. 1,725,017 shares of the company’s stock were exchanged, compared to its average volume of 3,320,278. The stock has a fifty day moving average of $363.04 and a 200-day moving average of $341.81. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The firm has a market cap of $331.81 billion, a PE ratio of 22.18, a P/E/G ratio of 2.23 and a beta of 1.01. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

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

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a dividend of $2.25 per share. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.69%. Home Depot’s dividend payout ratio is 59.60%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HD shares. TD Cowen raised their price objective on Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Evercore ISI dropped their target price on Home Depot from $420.00 to $415.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Citigroup lifted their target price on Home Depot from $333.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Wells Fargo & Company lifted their target price on 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 target price on shares of Home Depot in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

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.