8,764 Shares in The Home Depot, Inc. $HD Purchased by Summit Asset Management LLC

Summit Asset Management LLC bought a new position in The Home Depot, Inc. (NYSE:HD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,764 shares of the home improvement retailer’s stock, valued at approximately $3,091,000. Home Depot accounts for approximately 0.4% of Summit Asset Management LLC’s investment portfolio, making the stock its 26th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in HD. Curio Wealth LLC lifted its holdings in shares of Home Depot by 13.5% in the fourth quarter. Curio Wealth LLC now owns 218 shares of the home improvement retailer’s stock worth $76,000 after buying an additional 26 shares in the last quarter. Canandaigua National Trust Co of Florida grew its stake in Home Depot by 1.3% during the fourth quarter. Canandaigua National Trust Co of Florida now owns 2,178 shares of the home improvement retailer’s stock valued at $749,000 after acquiring an additional 27 shares in the last quarter. Moneco Advisors LLC grew its stake in Home Depot by 0.3% during the fourth quarter. Moneco Advisors LLC now owns 8,743 shares of the home improvement retailer’s stock valued at $3,008,000 after acquiring an additional 27 shares in the last quarter. Noesis Capital Mangement Corp increased its holdings in Home Depot by 1.5% during the 4th quarter. Noesis Capital Mangement Corp now owns 1,770 shares of the home improvement retailer’s stock worth $609,000 after acquiring an additional 27 shares during the period. Finally, Eubel Brady & Suttman Asset Management Inc. increased its holdings in Home Depot by 1.3% during the 4th quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,130 shares of the home improvement retailer’s stock worth $733,000 after acquiring an additional 27 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Key Headlines Impacting Home Depot

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Home Depot’s latest quarter showed solid execution: earnings and revenue exceeded consensus estimates, while sales increased year over year. Bank of America characterized the results as resilient despite a difficult housing backdrop. Home Depot Q2 results analysis
• Positive Sentiment: The board declared a quarterly dividend of $2.33 per share, payable September 17 to shareholders of record September 3. The annualized payout implies a yield of approximately 2.8%, supporting the stock’s income appeal. Home Depot declares quarterly dividend
• Positive Sentiment: DA Davidson, Argus and Guggenheim reiterated or assigned “Buy” ratings, indicating continued confidence in Home Depot’s long-term positioning. The company is also expanding nationwide express delivery to make smaller projects more convenient for cautious consumers. DA Davidson buy rating Home Depot expands express delivery
• Neutral Sentiment: Royal Bank of Canada lowered its price target to $342, while KeyCorp maintained a Sector Weight rating. The mixed recommendations suggest limited near-term upside despite the earnings beat. RBC lowers Home Depot price target
• Neutral Sentiment: Home Depot expanded executive responsibilities and awarded restricted stock, changes intended to support leadership continuity but with no immediate earnings impact. Home Depot executive changes
• Negative Sentiment: Reports highlight margin pressure and an uphill sales environment as customers delay or reduce spending on major renovations. This could constrain comparable sales and profitability even after the recent quarterly beat. Home Depot margin pressure Home Depot customer spending concerns
• Negative Sentiment: CFO Richard McPhail sold 5,989 shares worth approximately $2.1 million, reducing his position by 11.1%. While insider sales do not necessarily signal deteriorating fundamentals, the transaction may weigh modestly on sentiment. Home Depot CFO stock sale

Insider Activity at Home Depot

In related news, CFO Richard V. Mcphail sold 5,989 shares of Home Depot stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $348.40, for a total value of $2,086,567.60. Following the transaction, the chief financial officer owned 48,104 shares in the company, valued at $16,759,433.60. This trade represents a 11.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of Home Depot from $409.00 to $390.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Wells Fargo & Company upped their price target on shares of Home Depot from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Evercore lowered their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 20th. Jefferies Financial Group reissued a “buy” rating and set a $398.00 price objective on shares of Home Depot in a research note on Tuesday. Finally, Wolfe Research cut Home Depot from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 23rd. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $375.54.

Home Depot Stock Performance

NYSE:HD opened at $336.04 on Friday. The company has a market capitalization of $335.07 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 3.68 and a beta of 0.95. The business has a 50 day moving average of $340.86 and a 200 day moving average of $340.46. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.28. The Home Depot, Inc. has a 1-year low of $289.10 and a 1-year high of $426.75.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, beating analysts’ consensus estimates of $4.73 by $0.19. The business had revenue of $47.86 billion for the quarter, compared to analysts’ expectations of $47.24 billion. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 14.99 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be issued a dividend of $2.33 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $9.32 annualized dividend and a dividend yield of 2.8%. Home Depot’s dividend payout ratio (DPR) is currently 65.22%.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.