Cumberland Partners Ltd Cuts Stock Position in The Home Depot, Inc. $HD

Key Points

• Cumberland Partners Ltd sharply reduced its Home Depot stake in the first quarter, cutting its position by 76.4% and selling 46,075 shares. The firm still held 14,212 shares valued at about $4.67 million.
• Wall Street sentiment remains constructive on Home Depot, with 18 analysts rating it a Buy, 13 a Hold, and one a Sell. The stock’s average analyst target price is $371.71, and the consensus rating is “Moderate Buy.”
• Home Depot reported solid quarterly results and continued shareholder returns, posting EPS of $3.43 on revenue of $41.77 billion, both slightly above estimates. The company also paid a $2.33 quarterly dividend, equal to a 2.8% annualized yield.

Cumberland Partners Ltd lessened its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 76.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,212 shares of the home improvement retailer's stock after selling 46,075 shares during the quarter. Cumberland Partners Ltd's holdings in Home Depot were worth $4,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Parvin Asset Management LLC grew its position in Home Depot by 110.0% during the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer's stock valued at $26,000 after buying an additional 33 shares during the period. Advocate Investing Services LLC bought a new stake in Home Depot in the fourth quarter worth about $25,000. Key Capital Management INC purchased a new position in Home Depot in the fourth quarter valued at about $28,000. Cache Advisors LLC purchased a new position in Home Depot in the first quarter valued at about $27,000. Finally, Imprint Wealth LLC bought a new position in shares of Home Depot during the 3rd quarter valued at approximately $34,000. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HD. Piper Sandler decreased their price target on shares of Home Depot from $422.00 to $421.00 and set an "overweight" rating for the company in a research note on Wednesday, May 20th. Gordon Haskett upped their price objective on Home Depot from $320.00 to $330.00 in a research note on Friday, June 12th. Morgan Stanley reduced their price objective on Home Depot from $420.00 to $400.00 and set an "overweight" rating for the company in a report on Wednesday, May 20th. Bank of America assumed coverage on Home Depot in a research report on Tuesday, May 5th. They issued a "buy" rating and a $374.00 target price for the company. Finally, Guggenheim reaffirmed a "buy" rating and set a $425.00 price target on shares of Home Depot in a research report on Monday, July 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $371.71.

Home Depot Stock Up 2.5%

HD stock opened at $332.86 on Friday. 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 firm has a market capitalization of $331.91 billion, a PE ratio of 23.64, a PEG ratio of 3.75 and a beta of 0.95. The Home Depot, Inc. has a twelve month low of $289.10 and a twelve month high of $426.75. The stock has a 50-day simple moving average of $329.52 and a two-hundred day simple moving average of $344.73.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.41 by $0.02. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The firm had revenue of $41.77 billion for the quarter, compared to the consensus estimate of $41.59 billion. During the same period in the prior year, the firm posted $3.56 earnings per share. The company'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. On average, equities analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders 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 annualized dividend and a yield of 2.8%. Home Depot's dividend payout ratio is currently 66.19%.

About Home Depot

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.

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