The Home Depot, Inc. $HD is Summit Global Investments’ 9th Largest Position

Summit Global Investments increased its holdings in The Home Depot, Inc. (NYSE:HD) by 45.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,407 shares of the home improvement retailer’s stock after buying an additional 17,001 shares during the period. Home Depot comprises about 1.2% of Summit Global Investments’ holdings, making the stock its 9th largest position. Summit Global Investments’ holdings in Home Depot were worth $19,948,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HD. Nuveen LLC acquired a new stake in shares of Home Depot in the first quarter valued at approximately $2,076,592,000. Valeo Financial Advisors LLC lifted its stake in Home Depot by 16,746.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock valued at $1,663,768,000 after buying an additional 4,510,944 shares in the last quarter. Vanguard Group Inc. grew its holdings in Home Depot by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock valued at $35,922,952,000 after buying an additional 1,494,615 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Home Depot by 19.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer’s stock valued at $3,391,240,000 after buying an additional 1,494,261 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Home Depot during the second quarter worth $418,486,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of NYSE:HD opened at $343.22 on Monday. The business has a 50-day moving average of $385.34 and a two-hundred day moving average of $381.29. The firm has a market capitalization of $341.64 billion, a PE ratio of 23.32, a P/E/G 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 12 month low of $326.31 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results 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 193.99% and a net margin of 8.86%.The firm had revenue of $41.35 billion for the quarter, compared to analysts’ expectations of $41.06 billion. During the same quarter in the previous year, the firm posted $3.78 EPS. The firm’s revenue for the quarter 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. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.7%. Home Depot’s dividend payout ratio is presently 62.71%.

Insider Activity at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of Home Depot stock in a transaction on Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the transaction, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on HD shares. Morgan Stanley decreased their price objective on Home Depot from $430.00 to $395.00 and set an “overweight” rating on the stock in a research note on Wednesday. BNP Paribas Exane reduced their price target on Home Depot from $391.00 to $353.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Royal Bank Of Canada lowered their price objective on Home Depot from $401.00 to $376.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 19th. DZ Bank restated a “sell” rating on shares of Home Depot in a report on Tuesday, November 18th. Finally, Sanford C. Bernstein decreased their target price on shares of Home Depot from $406.00 to $362.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 19th. Twenty-one research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $409.72.

About Home Depot

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.