The Home Depot, Inc. $HD Shares Purchased by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 2.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,349 shares of the home improvement retailer’s stock after purchasing an additional 29 shares during the period. Summit Financial Strategies Inc.’s holdings in Home Depot were worth $494,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new position in shares of Home Depot in the second quarter valued at approximately $28,000. Abound Financial LLC acquired a new position in Home Depot during the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC grew its holdings in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after acquiring an additional 46 shares in the last quarter. Global X Japan Co. Ltd. acquired a new position in Home Depot during the 2nd quarter worth approximately $40,000. Finally, Compass Financial Services Inc acquired a new position in Home Depot during the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In related news, EVP Angie Brown sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the sale, the executive vice president owned 3,837 shares in the company, valued at $1,550,416.59. This represents a 20.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the sale, the chief executive officer owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock worth $19,623,432 over the last 90 days. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of several analyst reports. TD Securities cut shares of Home Depot to a “buy” rating in a report on Monday, June 2nd. Wolfe Research initiated coverage on shares of Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price target for the company. Robert W. Baird boosted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Wells Fargo & Company boosted their price target on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $436.40.

Home Depot Trading Down 0.8%

Shares of Home Depot stock opened at $406.70 on Tuesday. The company has a fifty day simple moving average of $400.71 and a 200-day simple moving average of $375.25. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The stock has a market cap of $404.82 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 3.89 and a beta of 1.00.

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

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot’s dividend payout ratio is 62.50%.

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.