Summit Global Investments Has $13.71 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Summit Global Investments grew its holdings in The Home Depot, Inc. (NYSE:HD) by 95.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,406 shares of the home improvement retailer’s stock after acquiring an additional 18,293 shares during the period. Home Depot accounts for approximately 1.0% of Summit Global Investments’ holdings, making the stock its 15th largest position. Summit Global Investments’ holdings in Home Depot were worth $13,709,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HD. Wealth Group Ltd. grew its position in Home Depot by 5.0% in the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after purchasing an additional 27 shares during the last quarter. Tallon Kerry Patrick acquired a new position in Home Depot in the fourth quarter worth about $281,000. Capital & Planning LLC grew its position in Home Depot by 110.2% in the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 563 shares during the period. Ironwood Wealth Management LLC. increased its position in shares of Home Depot by 0.7% during the 4th quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock worth $1,765,000 after purchasing an additional 32 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after purchasing an additional 7,203 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Activity

In related news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

NYSE:HD opened at $368.08 on Friday. The stock has a market capitalization of $365.88 billion, a PE ratio of 25.01, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1-year low of $323.93 and a 1-year high of $439.37. The firm has a fifty day simple moving average of $360.78 and a 200 day simple moving average of $386.29. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its earnings results 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). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the previous year, the company posted $3.63 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Wall Street Analyst Weigh In

HD has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their price objective on Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 15th. Wells Fargo & Company dropped their price target on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Truist Financial raised their target price on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. Finally, Jefferies Financial Group lowered their price objective on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued 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 an average target price of $426.77.

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.