Summit Wealth Group LLC Co. cut its stake in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 52.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,360 shares of the home improvement retailer’s stock after selling 2,629 shares during the period. Summit Wealth Group LLC Co.’s holdings in Home Depot were worth $812,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Parvin Asset Management LLC raised its stake in Home Depot by 110.0% during the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock valued at $26,000 after buying an additional 33 shares during the last quarter. Key Capital Management INC purchased a new stake in Home Depot during the 4th quarter valued at $28,000. Financially Speaking Inc purchased a new stake in Home Depot during the 3rd quarter valued at $31,000. Disciplined Equity Management Inc. purchased a new stake in shares of Home Depot in the 4th quarter worth $34,000. Finally, Family CFO Inc purchased a new position in Home Depot during the fourth quarter valued at $34,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.
Trending Headlines about Home Depot
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
Analyst Ratings Changes
Several analysts have issued reports on the company. Robert W. Baird boosted their price target on Home Depot from $400.00 to $430.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Telsey Advisory Group reissued an “outperform” rating and set a $435.00 price target on shares of Home Depot in a report on Wednesday, March 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Home Depot in a report on Friday, March 27th. Piper Sandler cut their price target on Home Depot from $441.00 to $422.00 and set an “overweight” rating for the company in a report on Monday, February 23rd. Finally, Wolfe Research boosted their price target on Home Depot from $413.00 to $414.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Twenty analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $409.14.
View Our Latest Stock Report on Home Depot
Home Depot Trading Down 0.3%
Shares of HD stock opened at $310.61 on Wednesday. The Home Depot, Inc. has a 52-week low of $309.11 and a 52-week high of $426.75. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.26 and a current ratio of 1.06. The firm has a market capitalization of $309.38 billion, a PE ratio of 21.83, a PEG ratio of 3.59 and a beta of 1.00. The stock has a fifty day simple moving average of $335.81 and a two-hundred day simple moving average of $355.95.
Home Depot (NYSE:HD – Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The home improvement retailer reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.20. Home Depot had a return on equity of 134.32% and a net margin of 8.60%.The business had revenue of $38.20 billion during the quarter, compared to analyst estimates of $38.01 billion. During the same quarter in the prior year, the business posted $3.13 EPS. Home Depot’s revenue for the quarter was down 3.8% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. On average, analysts predict that The Home Depot, Inc. will post 15.03 EPS for the current fiscal year.
Home Depot Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th were paid a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Thursday, March 12th. This is a boost from Home Depot’s previous quarterly dividend of $2.30. Home Depot’s dividend payout ratio (DPR) is currently 65.50%.
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.
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