The Home Depot, Inc. (NYSE:HD) Shares Purchased by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 179.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,141 shares of the home improvement retailer’s stock after acquiring an additional 1,375 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Home Depot were worth $875,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Synergy Asset Management LLC purchased a new stake in Home Depot in the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot in the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at about $32,000. Sellwood Investment Partners LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $39,000. Finally, NewSquare Capital LLC grew its holdings 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 buying an additional 68 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Down 1.5 %

NYSE:HD traded down $5.31 during mid-day trading on Thursday, hitting $350.08. The company had a trading volume of 889,937 shares, compared to its average volume of 3,479,003. The business has a fifty day simple moving average of $377.57 and a 200-day simple moving average of $396.60. The firm has a market capitalization of $347.99 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the prior year, the company posted $2.82 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts forecast that The Home Depot, Inc. will post 15.13 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 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is 61.66%.

Analyst Ratings Changes

Several analysts have commented on HD shares. Royal Bank of Canada reduced their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Guggenheim restated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $434.08.

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.