Summit Asset Management LLC Increases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Summit Asset Management LLC lifted its position in The Home Depot, Inc. (NYSE:HD) by 1.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,871 shares of the home improvement retailer’s stock after purchasing an additional 100 shares during the period. Summit Asset Management LLC’s holdings in Home Depot were worth $2,284,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pensionfund Sabic increased its holdings in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after buying an additional 3,800 shares during the period. Swedbank AB increased its holdings in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares during the period. Wedmont Private Capital increased its holdings in shares of Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after buying an additional 1,506 shares during the period. Johnson & White Wealth Management LLC purchased a new position in shares of Home Depot in the fourth quarter worth about $1,793,000. Finally, Cerity Partners LLC increased its holdings in shares of Home Depot by 14.3% in the third quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock worth $273,055,000 after buying an additional 84,062 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD opened at $384.82 on Friday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business’s 50 day moving average price is $402.13 and its 200-day moving average price is $397.54. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The stock has a market cap of $382.26 billion, a P/E ratio of 26.14, a P/E/G ratio of 4.03 and a beta of 1.05.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HD shares. TD Cowen lifted their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company lifted their price objective on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Mizuho lifted their price objective on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Truist Financial boosted their price target on Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $433.44.

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.