SummitTX Capital L.P. Cuts Position in The Home Depot, Inc. $HD

SummitTX Capital L.P. trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 88.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,306 shares of the home improvement retailer’s stock after selling 62,663 shares during the period. SummitTX Capital L.P.’s holdings in Home Depot were worth $2,732,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Home Depot during the fourth quarter valued at about $4,850,329,000. Wellington Management Group LLP grew its position in shares of Home Depot by 60.8% in the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock worth $4,109,878,000 after buying an additional 3,836,051 shares during the last quarter. Cardano Risk Management B.V. raised its stake in shares of Home Depot by 901.5% during the 4th quarter. Cardano Risk Management B.V. now owns 3,290,540 shares of the home improvement retailer’s stock worth $1,132,275,000 after acquiring an additional 2,961,979 shares in the last quarter. Diamant Asset Management Inc. raised its stake in shares of Home Depot by 33,026.3% during the 1st quarter. Diamant Asset Management Inc. now owns 2,342,026 shares of the home improvement retailer’s stock worth $770,269,000 after acquiring an additional 2,334,956 shares in the last quarter. Finally, J. Stern & Co. LLP lifted its position in Home Depot by 14,869.3% during the fourth quarter. J. Stern & Co. LLP now owns 2,232,521 shares of the home improvement retailer’s stock valued at $768,210,000 after acquiring an additional 2,217,607 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HD shares. Wall Street Zen upgraded shares of Home Depot from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Citigroup reduced their price target on Home Depot from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Evercore decreased their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, May 20th. JPMorgan Chase & Co. lowered their price objective on Home Depot from $423.00 to $396.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada dropped their target price on Home Depot from $377.00 to $340.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 20th. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $371.71.

Key Headlines Impacting Home Depot

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

• Positive Sentiment: Home Depot announced a new renovation initiative with Boys & Girls Clubs, reinforcing its community-focused brand and potentially supporting customer engagement. The program is unlikely to materially affect near-term earnings but contributed to the positive news flow. Home Depot Stock Surges With New Boys & Girls Clubs Renovation Plan
• Positive Sentiment: Investors appeared to favor HD as a relatively defensive retail name while technology stocks weakened. Social-media commentary pointed to steady share accumulation, and August call-option activity surged as traders positioned for possible volatility ahead of the company’s mid-August earnings report. Home Depot Options Activity and Defensive Rotation
• Positive Sentiment: DA Davidson reaffirmed its “Buy” rating and set a $377 price target, implying additional upside from the cited share price. Analysts tracked by Quiver Quantitative had a median target of $376, with several targets ranging from $369 to $430. DA Davidson Reaffirms Buy Rating
• Positive Sentiment: The latest reported quarter exceeded expectations, with earnings per share of $3.43 versus a $3.41 consensus and revenue of $41.77 billion versus $41.59 billion expected. Revenue grew 4.8% year over year, supporting the longer-term investment case.
• Neutral Sentiment: Institutional positioning was mixed: 1,756 investors added HD shares while 1,877 reduced holdings in the latest reporting period. Insider activity was more cautious, with two executives selling shares and no reported insider purchases during the past six months.
• Negative Sentiment: Recent analysis highlighted underlying risks including elevated leverage, housing-market weakness, mortgage-rate sensitivity and potentially pressured discretionary consumer spending. These issues could limit big-ticket home-improvement demand and create volatility around earnings. Home Depot Problems Brewing Underneath the Surface

Home Depot Trading Up 2.6%

Shares of NYSE:HD opened at $344.74 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 1.04 and a debt-to-equity ratio of 3.23. The Home Depot, Inc. has a 52-week low of $289.10 and a 52-week high of $426.75. The stock has a market cap of $343.75 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 3.88 and a beta of 0.95. The business has a 50-day moving average price of $331.08 and a 200-day moving average price of $344.60.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.02. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The firm had revenue of $41.77 billion for the quarter, compared to analyst estimates of $41.59 billion. During the same quarter in the prior year, the firm earned $3.56 earnings per share. Home Depot’s revenue for the quarter was up 4.8% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were paid a $2.33 dividend. The ex-dividend date was Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.7%. Home Depot’s dividend payout ratio is presently 66.19%.

Home Depot Profile

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.