Summitry LLC Has $608,000 Stake in The Home Depot, Inc. (NYSE:HD)

Summitry LLC trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 9.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,992 shares of the home improvement retailer’s stock after selling 200 shares during the period. Summitry LLC’s holdings in The Home Depot were worth $608,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sage Mountain Advisors LLC bought a new stake in shares of The Home Depot during the fourth quarter worth approximately $3,528,000. Eagle Capital Management LLC raised its stake in shares of The Home Depot by 1.4% during the fourth quarter. Eagle Capital Management LLC now owns 19,425 shares of the home improvement retailer’s stock worth $5,160,000 after buying an additional 261 shares during the last quarter. Ironwood Wealth Management LLC. raised its stake in shares of The Home Depot by 856.8% during the fourth quarter. Ironwood Wealth Management LLC. now owns 3,320 shares of the home improvement retailer’s stock worth $882,000 after buying an additional 2,973 shares during the last quarter. Camden National Bank raised its stake in shares of The Home Depot by 9.7% during the fourth quarter. Camden National Bank now owns 2,563 shares of the home improvement retailer’s stock worth $681,000 after buying an additional 226 shares during the last quarter. Finally, Bouvel Investment Partners LLC bought a new stake in The Home Depot in the fourth quarter valued at approximately $33,000. Institutional investors own 69.48% of the company’s stock.

In other news, EVP Matt Carey sold 113,138 shares of the stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $316.00, for a total value of $35,751,608.00. Following the transaction, the executive vice president now directly owns 78,594 shares of the company’s stock, valued at $24,835,704. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

HD has been the subject of several recent analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on shares of The Home Depot from $288.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, May 4th. Royal Bank of Canada upped their target price on shares of The Home Depot from $377.00 to $386.00 and gave the company an “outperform” rating in a research note on Wednesday, May 19th. Loop Capital upped their target price on shares of The Home Depot from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, May 19th. Zelman & Associates downgraded shares of The Home Depot from a “buy” rating to a “hold” rating in a research note on Thursday, April 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of The Home Depot from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, April 19th. Five equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $325.21.

Shares of HD traded up $1.48 during trading hours on Thursday, hitting $308.82. The company had a trading volume of 85,123 shares, compared to its average volume of 4,372,329. The stock has a market capitalization of $328.36 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 1.95 and a beta of 1.05. The stock has a fifty day moving average price of $320.25. The Home Depot, Inc. has a 12 month low of $234.31 and a 12 month high of $345.69. The company has a debt-to-equity ratio of 19.85, a quick ratio of 0.41 and a current ratio of 1.11.

The Home Depot (NYSE:HD) last issued its quarterly earnings data on Monday, May 17th. The home improvement retailer reported $3.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.08 by $0.78. The company had revenue of $37.50 billion for the quarter, compared to analyst estimates of $33.68 billion. The Home Depot had a net margin of 10.45% and a return on equity of 963.88%. The company’s revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 earnings per share. On average, sell-side analysts forecast that The Home Depot, Inc. will post 13.9 earnings per share for the current fiscal year.

The Home Depot declared that its board has approved a share repurchase program on Thursday, May 20th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, June 3rd will be given a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, June 2nd. The Home Depot’s payout ratio is presently 54.86%.

The Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, building materials, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for The Home Depot (NYSE:HD)

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