Bank of New York Mellon Corp Has $3.08 Billion Position in The Home Depot, Inc. $HD

Bank of New York Mellon Corp cut its holdings in The Home Depot, Inc. (NYSE:HD) by 2.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,612,641 shares of the home improvement retailer’s stock after selling 172,650 shares during the period. Home Depot accounts for approximately 0.6% of Bank of New York Mellon Corp’s portfolio, making the stock its 23rd biggest holding. Bank of New York Mellon Corp owned 0.76% of Home Depot worth $3,084,566,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Home Depot in the second quarter worth $4,885,603,000. Laurel Wealth Advisors LLC boosted its holdings in Home Depot by 36,207.5% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 10,076,783 shares of the home improvement retailer’s stock valued at $3,694,552,000 after purchasing an additional 10,049,029 shares during the period. Valeo Financial Advisors LLC grew its position in Home Depot by 16,746.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock worth $1,663,768,000 after purchasing an additional 4,510,944 shares during the last quarter. Vanguard Group Inc. grew its position in Home Depot by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock worth $35,922,952,000 after purchasing an additional 1,494,615 shares during the last quarter. Finally, Amundi increased its holdings in shares of Home Depot by 11.1% during the 2nd quarter. Amundi now owns 7,903,550 shares of the home improvement retailer’s stock worth $2,938,935,000 after purchasing an additional 790,476 shares during the period. Institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 2,872 shares of the firm’s stock in a transaction on Friday, December 26th. The stock was sold at an average price of $348.52, for a total value of $1,000,949.44. Following the completion of the sale, the executive vice president directly owned 13,196 shares in the company, valued at approximately $4,599,069.92. This trade represents a 17.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ann Marie Campbell sold 145 shares of Home Depot stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the completion of the transaction, the executive vice president directly owned 12,320 shares of the company’s stock, valued at $4,413,763.20. This represents a 1.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,963 shares of company stock valued at $1,748,845 in the last three months. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Down 1.6%

Shares of NYSE HD opened at $380.48 on Wednesday. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $426.75. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.29 and a current ratio of 1.05. The business has a fifty day moving average of $357.47 and a two-hundred day moving average of $378.75. The stock has a market cap of $378.77 billion, a PE ratio of 25.94, a PEG ratio of 14.41 and a beta of 1.08.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing the consensus estimate of $3.83 by ($0.09). Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The firm had revenue of $41.35 billion during the quarter, compared to the consensus estimate of $41.06 billion. During the same period in the previous year, the company posted $3.78 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, December 4th. Home Depot’s dividend payout ratio (DPR) is currently 62.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group set a $430.00 target price on Home Depot in a research report on Wednesday, December 10th. Gordon Haskett decreased their price objective on Home Depot from $345.00 to $330.00 and set a “hold” rating on the stock in a report on Wednesday, November 19th. Sanford C. Bernstein restated a “market perform” rating and set a $362.00 price objective on shares of Home Depot in a research report on Monday, November 24th. Royal Bank Of Canada reduced their target price on Home Depot from $376.00 to $366.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 10th. Finally, Citigroup lowered their price target on shares of Home Depot from $422.00 to $407.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Twenty-one research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $404.50.

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.