The Home Depot, Inc. (NYSE:HD) Shares Sold by Summit X LLC

Summit X LLC reduced its position in The Home Depot, Inc. (NYSE:HD) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,835 shares of the home improvement retailer’s stock after selling 70 shares during the quarter. Summit X LLC’s holdings in Home Depot were worth $714,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HD. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $32,000. NewSquare Capital LLC raised its stake in shares of Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot during the third quarter worth approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the subject of several analyst reports. Robert W. Baird cut their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company increased their price objective on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Nine 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

Home Depot stock opened at $368.49 on Wednesday. The stock’s 50-day moving average is $399.50 and its 200-day moving average is $400.03. The company has a market cap of $366.04 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth 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. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $2.82 EPS. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

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.