Summit Asset Management LLC Boosts Position in The Home Depot, Inc. $HD

Summit Asset Management LLC lifted its position in The Home Depot, Inc. (NYSE:HD) by 12.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,711 shares of the home improvement retailer’s stock after buying an additional 853 shares during the quarter. Summit Asset Management LLC’s holdings in Home Depot were worth $2,827,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Legend Financial Advisors Inc. bought a new position in Home Depot in the 2nd quarter valued at $28,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Home Depot in the second quarter worth $32,000. Legacy Investment Solutions LLC bought a new stake in Home Depot during the second quarter valued at $35,000. Iron Horse Wealth Management LLC grew its position in Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 46 shares in the last quarter. Finally, Global X Japan Co. Ltd. bought a new position in Home Depot in the 2nd quarter worth about $40,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Up 0.4%

Shares of NYSE HD opened at $370.71 on Friday. The stock has a market capitalization of $369.00 billion, a P/E ratio of 25.18, a PEG ratio of 3.59 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The firm’s 50 day simple moving average is $397.28 and its two-hundred day simple moving average is $381.46. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same period last year, the company posted $4.60 EPS. Home Depot’s revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.5%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio is presently 62.50%.

Insider Activity

In other news, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the transaction, the chief financial officer owned 45,455 shares in the company, valued at approximately $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $9,941,924.05. This trade represents a 13.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 48,835 shares of company stock valued at $19,623,432. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HD shares. Wells Fargo & Company lifted their price target on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Sanford C. Bernstein raised their target price on shares of Home Depot from $403.00 to $406.00 and gave the company a “market perform” rating in a research note on Friday. Stifel Nicolaus boosted their price target on shares of Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. Oppenheimer increased their price target on shares of Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a report on Thursday, September 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Home Depot in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $434.82.

Home Depot Company 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.