Summit Trail Advisors LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Summit Trail Advisors LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.8% in the 4th quarter, Holdings Channel reports. The fund owned 9,960 shares of the home improvement retailer’s stock after selling 505 shares during the period. Summit Trail Advisors LLC’s holdings in Home Depot were worth $3,452,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bare Financial Services Inc acquired a new position in Home Depot during the 4th quarter valued at approximately $26,000. Keener Financial Planning LLC bought a new stake in shares of Home Depot in the 4th quarter worth $31,000. PFG Private Wealth Management LLC boosted its stake in Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 32 shares in the last quarter. Gilfoyle & Co LLC bought a new stake in Home Depot in the fourth quarter worth about $35,000. Finally, Briaud Financial Planning Inc bought a new position in shares of Home Depot during the 3rd quarter valued at about $41,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. DA Davidson reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Home Depot in a research report on Monday, April 1st. Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $311.00 to $400.00 in a research note on Tuesday, January 16th. Finally, Guggenheim reiterated a “buy” rating and issued a $390.00 target price on shares of Home Depot in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $375.96.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Trading Up 0.2 %

NYSE HD traded up $0.72 during trading on Tuesday, reaching $343.01. 509,616 shares of the stock traded hands, compared to its average volume of 3,316,982. The stock’s 50-day moving average price is $361.16 and its 200 day moving average price is $343.16. The firm has a market cap of $339.93 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. During the same period last year, the company earned $3.30 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is 59.60%.

About Home Depot

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.