Summit Asset Management LLC Purchases 853 Shares of The Home Depot, Inc. $HD

Summit Asset Management LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 12.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,711 shares of the home improvement retailer’s stock after acquiring 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 institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after buying an additional 7,203 shares during the last quarter. Harmony Asset Management LLC raised its holdings in shares of Home Depot by 2.5% during the first quarter. Harmony Asset Management LLC now owns 14,370 shares of the home improvement retailer’s stock valued at $5,266,000 after acquiring an additional 353 shares in the last quarter. Lane & Associates LLC lifted its stake in Home Depot by 8.2% in the first quarter. Lane & Associates LLC now owns 898 shares of the home improvement retailer’s stock worth $329,000 after acquiring an additional 68 shares during the period. Quest 10 Wealth Builders Inc. boosted its holdings in Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer’s stock valued at $42,000 after acquiring an additional 30 shares in the last quarter. Finally, Riversedge Advisors LLC boosted its holdings in Home Depot by 7.9% in the first quarter. Riversedge Advisors LLC now owns 1,207 shares of the home improvement retailer’s stock valued at $442,000 after acquiring an additional 88 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Up 0.4%

NYSE:HD opened at $370.71 on Friday. The firm 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 company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company’s 50-day simple moving average is $397.28 and its 200 day simple moving average is $381.46.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the previous year, the business posted $4.60 earnings per share. 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 forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Robert W. Baird increased their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Weiss Ratings restated a “buy (b)” rating on shares of Home Depot in a report on Wednesday, October 8th. Stifel Nicolaus upped their target price on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Finally, Mizuho increased their target price on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $434.82.

Insiders Place Their Bets

In other news, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $397.22, for a total value of $13,067,346.34. Following the completion of the transaction, the chief executive officer owned 122,425 shares of the company’s stock, valued at $48,629,658.50. The trade was a 21.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the transaction, the executive vice president owned 16,057 shares in the company, valued at approximately $6,635,234.11. The trade was a 25.45% 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.

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.