Summit Wealth Group LLC Co. Sells 2,629 Shares of The Home Depot, Inc. $HD

Summit Wealth Group LLC Co. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 52.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,360 shares of the home improvement retailer’s stock after selling 2,629 shares during the quarter. Summit Wealth Group LLC Co.’s holdings in Home Depot were worth $812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of HD. Wellington Management Group LLP boosted its position in Home Depot by 60.8% during the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock valued at $4,109,878,000 after acquiring an additional 3,836,051 shares in the last quarter. Vanguard Group Inc. boosted its position in Home Depot by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer’s stock valued at $34,284,672,000 after acquiring an additional 1,325,748 shares in the last quarter. Franklin Resources Inc. boosted its position in Home Depot by 37.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,806,308 shares of the home improvement retailer’s stock valued at $1,542,278,000 after acquiring an additional 1,040,577 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in Home Depot during the 3rd quarter valued at approximately $284,893,000. Finally, ABN AMRO Bank N.V. boosted its position in Home Depot by 2,427.3% during the 3rd quarter. ABN AMRO Bank N.V. now owns 631,551 shares of the home improvement retailer’s stock valued at $254,943,000 after acquiring an additional 606,562 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on HD. Royal Bank Of Canada lifted their price objective on Home Depot from $363.00 to $377.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. Morgan Stanley lifted their price objective on Home Depot from $412.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Wolfe Research lifted their price objective on Home Depot from $413.00 to $414.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Wells Fargo & Company lifted their price objective on Home Depot from $395.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Finally, Sanford C. Bernstein lifted their price objective on Home Depot from $381.00 to $390.00 and gave the company a “market perform” rating in a research report on Wednesday, February 25th. Twenty equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $409.14.

Home Depot Stock Performance

HD stock opened at $310.61 on Wednesday. The stock has a market capitalization of $309.38 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $309.11 and a 12-month high of $426.75. The company has a current ratio of 1.06, a quick ratio of 0.26 and a debt-to-equity ratio of 3.62. The stock’s 50 day simple moving average is $335.81 and its 200 day simple moving average is $355.95.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 24th. The home improvement retailer reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.20. The business had revenue of $38.20 billion for the quarter, compared to analysts’ expectations of $38.01 billion. Home Depot had a return on equity of 134.32% and a net margin of 8.60%.The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.13 EPS. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. As a group, research analysts forecast that The Home Depot, Inc. will post 15.03 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a $2.33 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.30. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $9.32 annualized dividend and a yield of 3.0%. Home Depot’s payout ratio is currently 65.50%.

More Home Depot News

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

• Positive Sentiment: Home Depot’s subsidiary SRS Distribution completed its acquisition of HVAC distributor Mingledorff’s, expanding HD’s presence in the professional HVAC market and supporting its long-term pro business growth strategy. Article Title
• Positive Sentiment: Several pieces highlighted Home Depot as an income/dividend stock with defensive appeal, which can attract investors looking for steady cash returns. Article Title
• Neutral Sentiment: Marketing and content partnerships, including a World Cup-related campaign with Men in Blazers, may help brand visibility but are not likely to move the stock meaningfully on their own. Article Title
• Neutral Sentiment: A study on which sectors produce the most 100-bagger stocks is interesting for market watchers, but it does not appear to be a direct catalyst for HD shares. Article Title
• Negative Sentiment: Analysts are looking for a year-over-year earnings decline in Home Depot’s upcoming report, raising the risk of a disappointment if demand remains soft. Article Title
• Negative Sentiment: Broader commentary on consumer discretionary weakness argues that higher rates and persistent inflation are hurting big-ticket spending, a headwind for Home Depot’s core home-improvement business. Article Title

Insider Transactions at Home Depot

In related news, CFO Richard V. Mcphail sold 2,550 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $368.89, for a total value of $940,669.50. Following the transaction, the chief financial officer directly owned 44,566 shares of the company’s stock, valued at approximately $16,439,951.74. This represents a 5.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.08% of the company’s stock.

Home Depot 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.