Bank of New York Mellon Corp Lowers Holdings in The Home Depot, Inc. $HD

Bank of New York Mellon Corp decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 comprises approximately 0.5% of Bank of New York Mellon Corp’s holdings, making the stock its 24th biggest holding. Bank of New York Mellon Corp owned approximately 0.78% of Home Depot worth $2,854,399,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in HD. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot during the 2nd quarter valued at about $28,000. Abound Financial LLC purchased a new stake in shares of Home Depot during the first quarter valued at approximately $31,000. Iron Horse Wealth Management LLC lifted its position in shares of Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 46 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in shares of Home Depot in the second quarter valued at $40,000. Finally, GFG Capital LLC purchased a new position in shares of Home Depot in the second quarter valued at $40,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the transaction, the executive vice president directly owned 16,057 shares of the company’s stock, valued at $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the sale, the executive vice president owned 24,235 shares in the company, valued at $9,941,924.05. The trade was a 13.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 in the last quarter. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Up 0.1%

Shares of Home Depot stock opened at $379.75 on Monday. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The business’s fifty day moving average price is $400.57 and its two-hundred day moving average price is $380.88. The company has a market capitalization of $378.00 billion, a P/E ratio of 25.80, a PEG ratio of 3.59 and a beta of 1.00.

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 company had revenue of $45.28 billion during 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 business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot’s payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

HD has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Weiss Ratings restated a “buy (b)” rating on shares of Home Depot in a report on Wednesday, October 8th. DA Davidson reiterated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. Mizuho upped their target price on shares of Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock 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.