Bank of New York Mellon Corp Sells 373,255 Shares of The Home Depot, Inc. $HD

Bank of New York Mellon Corp cut its holdings in The Home Depot, Inc. (NYSE:HD) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,785,291 shares of the home improvement retailer’s stock after selling 373,255 shares during the quarter. Home Depot makes up 0.5% of Bank of New York Mellon Corp’s portfolio, making the stock its 24th largest position. Bank of New York Mellon Corp’s holdings in Home Depot were worth $2,854,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Home Depot by 0.8% during the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer’s stock worth $35,360,494,000 after buying an additional 720,447 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Home Depot by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer’s stock valued at $5,282,398,000 after acquiring an additional 891,326 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Home Depot by 19.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer’s stock worth $3,391,240,000 after acquiring an additional 1,494,261 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Home Depot by 5.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,949,404 shares of the home improvement retailer’s stock valued at $3,279,867,000 after acquiring an additional 477,192 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Home Depot by 13.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,480,031 shares of the home improvement retailer’s stock valued at $2,374,866,000 after purchasing an additional 778,012 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Up 0.1%

Shares of HD stock opened at $379.75 on Monday. The stock has a market cap of $378.00 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 3.59 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The stock has a 50-day moving average of $400.57 and a 200-day moving average of $380.88.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio (DPR) is presently 62.50%.

Insider Transactions at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the transaction, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the sale, the executive vice president owned 16,057 shares of the company’s stock, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on HD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Home Depot in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their price target on shares of Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a research report on Monday, August 18th. Oppenheimer boosted their price objective on shares of Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research note on Thursday, September 25th. Morgan Stanley raised their target price on shares of Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Finally, Robert W. Baird boosted their target price on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $434.35.

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.