Summit Wealth & Retirement Planning Inc. Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Summit Wealth & Retirement Planning Inc. decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,234 shares of the home improvement retailer’s stock after selling 54 shares during the quarter. Summit Wealth & Retirement Planning Inc.’s holdings in Home Depot were worth $500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in shares of Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after purchasing an additional 8,762,735 shares during the last quarter. Wulff Hansen & CO. lifted its position in shares of Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after buying an additional 1,474,459 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after buying an additional 971,833 shares in the last quarter. Swedbank AB purchased a new position in shares of Home Depot in the 1st quarter valued at $301,364,000. Finally, Sarasin & Partners LLP raised its stake in Home Depot by 95.2% during the 2nd quarter. Sarasin & Partners LLP now owns 1,139,934 shares of the home improvement retailer’s stock worth $392,411,000 after acquiring an additional 556,053 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

HD opened at $405.90 on Friday. The Home Depot, Inc. has a 1 year low of $286.79 and a 1 year high of $421.56. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The company’s 50 day simple moving average is $395.19 and its 200 day simple moving average is $363.84. The stock has a market capitalization of $403.18 billion, a PE ratio of 27.31, a P/E/G ratio of 2.69 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period last year, the company posted $4.65 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.22%. Home Depot’s dividend payout ratio (DPR) is 60.57%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. TD Cowen boosted their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Truist Financial upped their price objective on Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group began coverage on shares of Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target on the stock. Sanford C. Bernstein began coverage on shares of Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective on the stock. Finally, Stifel Nicolaus lowered their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $420.04.

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.