Summit Global Investments Sells 8,829 Shares of Home Depot Inc (HD)

Summit Global Investments lessened its position in Home Depot Inc (NYSE:HD) by 10.9% in the first quarter, HoldingsChannel reports. The firm owned 72,438 shares of the home improvement retailer’s stock after selling 8,829 shares during the quarter. Home Depot comprises 2.1% of Summit Global Investments’ portfolio, making the stock its 11th biggest holding. Summit Global Investments’ holdings in Home Depot were worth $12,910,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Krilogy Financial LLC increased its stake in shares of Home Depot by 29.9% in the third quarter. Krilogy Financial LLC now owns 5,633 shares of the home improvement retailer’s stock valued at $921,000 after buying an additional 1,298 shares during the period. Tortoise Investment Management LLC increased its stake in shares of Home Depot by 98.2% in the third quarter. Tortoise Investment Management LLC now owns 4,744 shares of the home improvement retailer’s stock valued at $776,000 after buying an additional 2,350 shares during the period. California Public Employees Retirement System increased its stake in shares of Home Depot by 3.3% in the third quarter. California Public Employees Retirement System now owns 3,102,351 shares of the home improvement retailer’s stock valued at $507,421,000 after buying an additional 98,512 shares during the period. Piedmont Investment Advisors LLC increased its stake in shares of Home Depot by 0.9% in the third quarter. Piedmont Investment Advisors LLC now owns 263,613 shares of the home improvement retailer’s stock valued at $43,117,000 after buying an additional 2,338 shares during the period. Finally, Argent Capital Management LLC increased its stake in shares of Home Depot by 12.8% in the third quarter. Argent Capital Management LLC now owns 4,682 shares of the home improvement retailer’s stock valued at $766,000 after buying an additional 531 shares during the period. 69.15% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Mark Holifield sold 45,549 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $186.84, for a total value of $8,510,375.16. Following the transaction, the executive vice president now owns 51,879 shares in the company, valued at $9,693,072.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephanie Linnartz bought 1,000 shares of the company’s stock in a transaction dated Friday, June 1st. The stock was bought at an average price of $187.57 per share, for a total transaction of $187,570.00. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by corporate insiders.

Shares of Home Depot opened at $195.02 on Thursday, Marketbeat Ratings reports. The company has a market capitalization of $226.51 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.47 and a beta of 1.13. The company has a debt-to-equity ratio of 14.37, a quick ratio of 0.37 and a current ratio of 1.17. Home Depot Inc has a 52-week low of $144.25 and a 52-week high of $207.60.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 15th. The home improvement retailer reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.03. The business had revenue of $24.95 billion for the quarter, compared to analyst estimates of $25.17 billion. Home Depot had a return on equity of 399.15% and a net margin of 8.85%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 earnings per share. equities research analysts anticipate that Home Depot Inc will post 9.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 14th. Shareholders of record on Thursday, May 31st were issued a $1.03 dividend. The ex-dividend date of this dividend was Wednesday, May 30th. This represents a $4.12 annualized dividend and a yield of 2.11%. Home Depot’s payout ratio is currently 55.23%.

Several equities research analysts have recently weighed in on the company. Wells Fargo & Co set a $205.00 price target on Home Depot and gave the company a “buy” rating in a research note on Tuesday, May 15th. UBS Group increased their price target on Home Depot from $212.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, June 20th. Loop Capital set a $187.00 price target on Home Depot and gave the company a “hold” rating in a research note on Tuesday, May 15th. Zacks Investment Research raised Home Depot from a “sell” rating to a “hold” rating in a research note on Wednesday, May 16th. Finally, Deutsche Bank set a $210.00 price target on Home Depot and gave the company a “buy” rating in a research note on Tuesday, May 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $197.25.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Home Depot Inc (NYSE:HD).

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply