The Home Depot, Inc. (NYSE:HD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,692,979 shares of the home improvement retailer’s stock after selling 164,314 shares during the period. Home Depot accounts for about 0.6% of Bank of New York Mellon Corp’s portfolio, making the stock its 25th largest holding. Bank of New York Mellon Corp’s holdings in Home Depot were worth $2,992,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in HD. Norges Bank acquired a new position in shares of Home Depot during the 4th quarter worth approximately $4,311,070,000. Alphinity Investment Management Pty Ltd acquired a new position in Home Depot in the first quarter valued at approximately $513,016,000. Capital Research Global Investors lifted its holdings in Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after acquiring an additional 992,444 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after acquiring an additional 971,833 shares during the last quarter. Finally, Swedbank AB acquired a new position in Home Depot in the first quarter valued at approximately $301,364,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Performance

Shares of HD traded down $0.62 during mid-day trading on Monday, hitting $374.97. 1,384,595 shares of the company’s stock were exchanged, compared to its average volume of 3,434,037. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The firm has a market capitalization of $371.83 billion, a P/E ratio of 25.33, a P/E/G ratio of 2.48 and a beta of 0.98. The business’s 50 day moving average is $353.44 and its two-hundred day moving average is $353.58. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the prior year, the firm earned $4.65 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be given a $2.25 dividend. The ex-dividend date is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.40%. Home Depot’s payout ratio is currently 60.36%.

Wall Street Analyst Weigh In

HD has been the topic of a number of recent analyst reports. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Wedbush reiterated an “outperform” rating and issued a $410.00 price objective on shares of Home Depot in a report on Friday, May 10th. Stifel Nicolaus decreased their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. TD Cowen decreased their price objective on Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Finally, Truist Financial cut their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $386.33.

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.