Summit Wealth & Retirement Planning Inc. Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Summit Wealth & Retirement Planning Inc. trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,234 shares of the home improvement retailer’s stock after selling 54 shares during the quarter. Summit Wealth & Retirement Planning Inc.’s holdings in Home Depot were worth $500,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fairway Wealth LLC purchased a new position in Home Depot during the 2nd quarter valued at $25,000. Kings Path Partners LLC bought a new position in Home Depot during the 2nd quarter worth about $33,000. Denver PWM LLC purchased a new position in Home Depot during the 2nd quarter valued at about $40,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot in the 3rd quarter valued at about $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot in the 2nd quarter worth approximately $47,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD opened at $405.90 on Friday. The company’s fifty day moving average price is $395.19 and its 200 day moving average price is $363.84. The company has a market capitalization of $403.18 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01. The Home Depot, Inc. has a 1 year low of $286.79 and a 1 year high of $421.56. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the prior year, the firm posted $4.65 EPS. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. On average, research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Royal Bank of Canada reduced their price target on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. Melius Research started coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. Truist Financial increased their price target on shares of Home Depot from $455.00 to $459.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Evercore ISI reduced their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $420.04.

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.