The Home Depot, Inc. (NYSE:HD) Shares Sold by Cumberland Partners Ltd

Key Points

• Cumberland Partners Ltd reduced its stake in The Home Depot by 6.3%, now owning 74,631 shares valued at approximately $27.35 million.
• Institutional investors own 70.86% of Home Depot's shares, indicating strong support from large financial entities.
• Home Depot recently announced a quarterly dividend of $2.30 per share, representing an annual yield of 2.5% with a payout ratio of 62.42%.

Cumberland Partners Ltd trimmed its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 74,631 shares of the home improvement retailer's stock after selling 4,977 shares during the quarter. Home Depot comprises about 2.1% of Cumberland Partners Ltd's investment portfolio, making the stock its 18th largest holding. Cumberland Partners Ltd's holdings in Home Depot were worth $27,352,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HD. Asset Planning Services Inc. LA ADV increased its holdings in Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after buying an additional 18,956,701 shares during the period. Capital Research Global Investors grew its stake in Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after acquiring an additional 647,552 shares during the period. Northern Trust Corp grew its stake in Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. GAMMA Investing LLC grew its stake in Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Home Depot by 5.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,472,212 shares of the home improvement retailer's stock valued at $3,295,606,000 after acquiring an additional 441,729 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the business'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 completion of the transaction, the executive vice president directly owned 7,951 shares of the company's stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. DA Davidson decreased their price target on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Guggenheim reiterated a "buy" rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. TD Securities lowered shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Sanford C. Bernstein restated a "market perform" rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Finally, Mizuho reduced their price objective on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Price Performance

Shares of NYSE HD traded up $6.04 during trading on Friday, hitting $373.55. 3,006,523 shares of the company were exchanged, compared to its average volume of 3,228,696. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a market cap of $371.66 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 3.55 and a beta of 1.00. The firm's fifty day moving average price is $365.84 and its 200 day moving average price is $372.91. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. During the same quarter in the prior year, the firm earned $3.63 earnings per share. Home Depot's quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.5%. Home Depot's 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.