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

Bank of New York Mellon Corp reduced its position in The Home Depot, Inc. (NYSE:HD) by 2.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,612,641 shares of the home improvement retailer’s stock after selling 172,650 shares during the period. Home Depot accounts for 0.6% of Bank of New York Mellon Corp’s investment portfolio, making the stock its 23rd biggest holding. Bank of New York Mellon Corp’s holdings in Home Depot were worth $3,084,566,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sagard Holdings Management Inc. bought a new stake in Home Depot during the 2nd quarter worth about $29,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Home Depot during the 2nd quarter worth approximately $32,000. Legacy Investment Solutions LLC bought a new stake in shares of Home Depot during the second quarter worth approximately $35,000. Dougherty Wealth Advisers LLC acquired a new position in Home Depot in the third quarter valued at approximately $38,000. Finally, Marquette Asset Management LLC bought a new position in Home Depot in the third quarter valued at approximately $38,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 1.6%

NYSE:HD opened at $380.48 on Wednesday. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29. The business’s 50-day simple moving average is $357.47 and its 200-day simple moving average is $378.75. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $426.75. The stock has a market capitalization of $378.77 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 14.41 and a beta of 1.08.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing the consensus estimate of $3.83 by ($0.09). The company had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. 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 business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. Home Depot’s dividend payout ratio is presently 62.71%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Robert W. Baird cut their price target on Home Depot from $450.00 to $415.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. DZ Bank reissued a “sell” rating on shares of Home Depot in a research note on Tuesday, November 18th. Piper Sandler reduced their target price on Home Depot from $450.00 to $441.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Argus lowered their price target on Home Depot from $450.00 to $425.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Finally, Citigroup cut their price target on shares of Home Depot from $422.00 to $407.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Twenty-one analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $404.50.

Insiders Place Their Bets

In related news, EVP Angie Brown sold 1,946 shares of Home Depot stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $357.63, for a total value of $695,947.98. Following the sale, the executive vice president owned 3,941 shares of the company’s stock, valued at approximately $1,409,419.83. This trade represents a 33.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Marie Campbell sold 145 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 12,320 shares in the company, valued at $4,413,763.20. The trade was a 1.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 4,963 shares of company stock worth $1,748,845. Corporate insiders own 0.10% of the company’s stock.

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.