The Home Depot, Inc. (NYSE:HD) Shares Acquired by Summit Asset Management LLC

Summit Asset Management LLC boosted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 16.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 6,858 shares of the home improvement retailer's stock after purchasing an additional 987 shares during the quarter. Summit Asset Management LLC's holdings in Home Depot were worth $2,513,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HD. Asset Planning Services Inc. LA ADV grew its position in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after buying an additional 18,956,701 shares during the period. Norges Bank purchased a new position in Home Depot during the fourth quarter valued at approximately $5,032,910,000. GAMMA Investing LLC lifted its stake in shares of Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after buying an additional 10,210,851 shares in the last quarter. Northern Trust Corp lifted its holdings in Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in Home Depot during the fourth quarter valued at $471,189,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

In other Home Depot news, 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 transaction of $1,996,327.68. Following the transaction, the executive vice president owned 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president owned 7,951 shares of the company's stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Price Performance

Shares of HD traded up $7.08 during trading hours on Tuesday, hitting $371.12. 3,091,636 shares of the stock were exchanged, compared to its average volume of 3,438,834. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a market cap of $369.24 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 3.46 and a beta of 1.00. The stock's 50-day moving average price is $366.03 and its two-hundred day moving average price is $374.29. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

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 the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.63 EPS. Research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's payout ratio is currently 62.42%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HD. DA Davidson lowered their price target on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Robert W. Baird cut their price target on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Mizuho decreased their price objective on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Finally, Guggenheim reissued a "buy" rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Company 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.