Summit Global Investments Buys 18,293 Shares of The Home Depot, Inc. (NYSE:HD)

Summit Global Investments boosted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 95.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,406 shares of the home improvement retailer's stock after purchasing an additional 18,293 shares during the period. Home Depot comprises about 1.0% of Summit Global Investments' investment portfolio, making the stock its 15th biggest position. Summit Global Investments' holdings in Home Depot were worth $13,709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. Synergy Asset Management LLC bought a new position in shares of Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot in the fourth quarter worth about $28,000. Navigoe LLC acquired a new position in shares of Home Depot during the fourth quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $32,000. Finally, Quarry LP increased its holdings in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Down 0.1%

HD stock traded down $0.44 during trading hours on Friday, reaching $367.85. 4,110,311 shares of the stock were exchanged, compared to its average volume of 3,424,960. The firm's 50-day moving average is $360.92 and its 200-day moving average is $385.87. The Home Depot, Inc. has a 12 month low of $323.93 and a 12 month high of $439.37. The company has a market cap of $365.65 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.63 earnings per share. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot's dividend payout ratio is presently 62.42%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HD. Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Wells Fargo & Company cut their price target on Home Depot from $445.00 to $420.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Truist Financial lifted their price objective on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. upped their target price on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Finally, Morgan Stanley reiterated an "overweight" rating and set a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

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.