Copeland Capital Management LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Copeland Capital Management LLC lowered its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,627 shares of the home improvement retailer's stock after selling 696 shares during the quarter. Copeland Capital Management LLC's holdings in Home Depot were worth $12,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gold Investment Management Ltd. lifted its stake in Home Depot by 63.0% in the first quarter. Gold Investment Management Ltd. now owns 450 shares of the home improvement retailer's stock valued at $165,000 after buying an additional 174 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new stake in shares of Home Depot during the first quarter worth $1,316,000. Mirae Asset Global Investments Co. Ltd. grew its position in Home Depot by 10.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 370,339 shares of the home improvement retailer's stock valued at $132,659,000 after buying an additional 36,115 shares during the last quarter. Oakworth Capital Inc. increased its stake in Home Depot by 19.0% in the 1st quarter. Oakworth Capital Inc. now owns 8,796 shares of the home improvement retailer's stock valued at $3,224,000 after buying an additional 1,402 shares during the period. Finally, Achmea Investment Management B.V. increased its stake in Home Depot by 10.6% in the 1st quarter. Achmea Investment Management B.V. now owns 134,643 shares of the home improvement retailer's stock valued at $49,346,000 after buying an additional 12,956 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on HD. Piper Sandler cut their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Sanford C. Bernstein restated a "market perform" rating and set a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Jefferies Financial Group cut their price objective on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Friday, June 20th. Finally, Truist Financial upped their price objective on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Insiders Place Their Bets

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares of the company's stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Price Performance

NYSE HD traded up $4.86 during trading hours on Friday, reaching $368.36. The company's stock had a trading volume of 5,502,278 shares, compared to its average volume of 3,419,944. The stock has a market cap of $366.49 billion, a PE ratio of 24.99, a PEG ratio of 3.51 and a beta of 1.02. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company's 50-day moving average is $363.55 and its two-hundred day moving average is $377.53. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.63 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot's dividend payout ratio is currently 62.42%.

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.