Summit Financial LLC Raises Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Summit Financial LLC increased its holdings in Home Depot by 9.1%, owning 26,328 shares valued at approximately $9.65 million.
• Insider activity shows EVP Teresa Wynn Roseborough sold 5,406 shares at nearly $1.996 million, reducing her ownership by 23.74%.
• Home Depot's recent earnings report indicated an EPS of $4.68, slightly missing analysts' expectations, with quarterly revenue rising 4.9% year-over-year.

Summit Financial LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 9.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,328 shares of the home improvement retailer's stock after acquiring an additional 2,199 shares during the quarter. Summit Financial LLC's holdings in Home Depot were worth $9,649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HD. Navigoe LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $29,000. Abound Financial LLC purchased a new stake in shares of Home Depot during the first quarter valued at approximately $31,000. Iron Horse Wealth Management LLC increased its position in shares of Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after acquiring an additional 46 shares during the last quarter. Quarry LP increased its position in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after buying an additional 66 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. increased its position in Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after buying an additional 30 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.10% of the company's stock.

Home Depot Price Performance

Home Depot stock opened at $402.0330 on Thursday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The business has a 50-day simple moving average of $372.65 and a 200 day simple moving average of $371.64. The company has a quick ratio of 0.28, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The stock has a market cap of $399.99 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 3.87 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. During the same quarter in the previous year, the firm earned $4.60 earnings per share. Home Depot's quarterly revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HD. Royal Bank Of Canada decreased their target price on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research report on Thursday, May 15th. Wells Fargo & Company raised their target price on Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research report on Wednesday. Jefferies Financial Group decreased their target price on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Morgan Stanley raised their target price on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Gordon Haskett raised their target price on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and an average price target of $432.52.

Home Depot Profile

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.

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