Summit Global Investments Sells 22,425 Shares of The Home Depot, Inc. $HD

Summit Global Investments reduced its holdings in The Home Depot, Inc. (NYSE:HD) by 41.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,982 shares of the home improvement retailer’s stock after selling 22,425 shares during the quarter. Home Depot comprises 0.8% of Summit Global Investments’ holdings, making the stock its 17th largest holding. Summit Global Investments’ holdings in Home Depot were worth $12,959,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sagard Holdings Management Inc. bought a new stake in shares of Home Depot in the 2nd quarter valued at $29,000. LFA Lugano Financial Advisors SA bought a new position in Home Depot during the second quarter worth $32,000. Legacy Investment Solutions LLC acquired a new stake in Home Depot in the second quarter worth $35,000. Dougherty Wealth Advisers LLC bought a new stake in Home Depot in the third quarter valued at $38,000. Finally, Marquette Asset Management LLC acquired a new position in shares of Home Depot during the third quarter valued at about $38,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 2,872 shares of the stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $348.52, for a total value of $1,000,949.44. Following the completion of the sale, the executive vice president owned 13,196 shares in the company, valued at approximately $4,599,069.92. This trade represents a 17.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Angie Brown sold 1,946 shares of Home Depot stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $357.63, for a total transaction of $695,947.98. Following the transaction, the executive vice president directly owned 3,941 shares in the company, valued at approximately $1,409,419.83. This represents a 33.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 4,963 shares of company stock valued at $1,748,845. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of several research reports. The Goldman Sachs Group restated a “buy” rating and issued a $413.00 target price on shares of Home Depot in a research note on Wednesday, December 10th. Morgan Stanley increased their price target on Home Depot from $395.00 to $412.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Daiwa Capital Markets raised their price objective on Home Depot from $348.00 to $360.00 and gave the company a “neutral” rating in a research note on Tuesday, December 16th. Gordon Haskett lowered their target price on Home Depot from $345.00 to $330.00 and set a “hold” rating on the stock in a research report on Wednesday, November 19th. Finally, Wells Fargo & Company cut their target price on Home Depot from $400.00 to $395.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $404.50.

Trending Headlines about Home Depot

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Management is cutting roughly 800 corporate roles as part of a reorganization intended to speed decision-making and redirect resources toward frontline stores—cost reductions could support margins and near-term EPS if savings are realized. Home Depot to cut 800 corporate jobs at its Atlanta store support center
• Positive Sentiment: Product placement: Home Depot will carry Back to the Roots’ 100% organic heirloom seed line across about 2,000 U.S. stores — a seasonal merchandising boost for the gardening category that can drive incremental traffic and sales in spring. Back to the Roots Expands Organic Heirloom Seed Line to The Home Depot Stores Nationwide
• Neutral Sentiment: Analysts remain mixed on Home Depot’s outlook; some see resilience in discretionary demand while others point to housing headwinds — mixed analyst views mean guidance and upcoming comps will likely drive short-term trading more than a unanimous thesis. Analysts Have Conflicting Sentiments on These Consumer Cyclical Companies: Home Depot (HD) and Starbucks (SBUX)
• Negative Sentiment: The scale of the cuts and an order for corporate employees to return to the office five days a week are being interpreted as management reacting to a slowdown (notably a frozen housing market). That raises concern about lower same-store sales and traffic ahead, which could pressure revenue and the stock until comps or guidance rebound. Home Depot Cuts 800 Workers, Orders Corporate Workers Back to Office Full Time

Home Depot Trading Down 0.9%

Shares of Home Depot stock opened at $371.91 on Friday. The company has a market capitalization of $370.24 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 13.99 and a beta of 1.08. The stock has a fifty day simple moving average of $359.07 and a 200 day simple moving average of $378.68. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $426.75. The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 3.82.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The firm had revenue of $41.35 billion for the quarter, compared to analysts’ expectations of $41.06 billion. During the same period in the prior year, the firm earned $3.78 earnings per share. Home Depot’s revenue was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, December 4th. Home Depot’s dividend payout ratio is presently 62.71%.

Home Depot Company Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.