Bank of New York Mellon Corp Invests $2.78 Billion in The Home Depot, Inc. $HD

Bank of New York Mellon Corp bought a new position in The Home Depot, Inc. (NYSE:HD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,875,115 shares of the home improvement retailer's stock, valued at approximately $2,777,396,000. Bank of New York Mellon Corp owned about 0.79% of Home Depot at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Advocate Investing Services LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $25,000. Parvin Asset Management LLC grew its position in shares of Home Depot by 110.0% in the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer's stock worth $26,000 after buying an additional 33 shares during the last quarter. Cache Advisors LLC purchased a new position in shares of Home Depot during the first quarter valued at approximately $27,000. Merkkuri Wealth Advisors LLC purchased a new position in shares of Home Depot during the first quarter valued at approximately $28,000. Finally, Abound Financial LLC bought a new position in shares of Home Depot during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analyst Weigh In

HD has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price target on shares of Home Depot from $320.00 to $340.00 and gave the company a "hold" rating in a report on Monday, August 17th. Wolfe Research lowered shares of Home Depot from an "outperform" rating to a "peer perform" rating in a report on Tuesday, June 23rd. Oppenheimer dropped their target price on shares of Home Depot from $405.00 to $310.00 and set a "market perform" rating for the company in a research report on Monday, May 18th. Mizuho lifted their target price on shares of Home Depot from $385.00 to $390.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Bank of America initiated coverage on shares of Home Depot in a research report on Tuesday, May 5th. They set a "buy" rating and a $374.00 price target on the stock. Eighteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $375.54.

Home Depot Trading Up 0.5%

NYSE:HD opened at $336.04 on Friday. The company's 50 day moving average price is $340.86 and its 200-day moving average price is $340.46. The company has a quick ratio of 0.28, a current ratio of 1.08 and a debt-to-equity ratio of 2.64. The Home Depot, Inc. has a 52 week low of $289.10 and a 52 week high of $426.75. The stock has a market cap of $335.07 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 3.70 and a beta of 0.95.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, topping the consensus estimate of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.The firm had revenue of $47.86 billion during the quarter, compared to analysts' expectations of $47.24 billion. During the same quarter in the previous year, the business earned $4.68 earnings per share. The company's revenue was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, equities research analysts forecast that The Home Depot, Inc. will post 14.99 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be given a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Home Depot's payout ratio is 65.22%.

Home Depot News Roundup

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Home Depot’s latest quarter showed solid execution: earnings and revenue exceeded consensus estimates, while sales increased year over year. Bank of America characterized the results as resilient despite a difficult housing backdrop. Home Depot Q2 results analysis
• Positive Sentiment: The board declared a quarterly dividend of $2.33 per share, payable September 17 to shareholders of record September 3. The annualized payout implies a yield of approximately 2.8%, supporting the stock’s income appeal. Home Depot declares quarterly dividend
• Positive Sentiment: DA Davidson, Argus and Guggenheim reiterated or assigned “Buy” ratings, indicating continued confidence in Home Depot’s long-term positioning. The company is also expanding nationwide express delivery to make smaller projects more convenient for cautious consumers. DA Davidson buy rating Home Depot expands express delivery
• Neutral Sentiment: Royal Bank of Canada lowered its price target to $342, while KeyCorp maintained a Sector Weight rating. The mixed recommendations suggest limited near-term upside despite the earnings beat. RBC lowers Home Depot price target
• Neutral Sentiment: Home Depot expanded executive responsibilities and awarded restricted stock, changes intended to support leadership continuity but with no immediate earnings impact. Home Depot executive changes
• Negative Sentiment: Reports highlight margin pressure and an uphill sales environment as customers delay or reduce spending on major renovations. This could constrain comparable sales and profitability even after the recent quarterly beat. Home Depot margin pressure Home Depot customer spending concerns
• Negative Sentiment: CFO Richard McPhail sold 5,989 shares worth approximately $2.1 million, reducing his position by 11.1%. While insider sales do not necessarily signal deteriorating fundamentals, the transaction may weigh modestly on sentiment. Home Depot CFO stock sale

Insider Buying and Selling

In related news, CFO Richard V. Mcphail sold 5,989 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the completion of the sale, the chief financial officer owned 48,104 shares in the company, valued at approximately $16,759,433.60. This represents a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.08% of the company's stock.

Home Depot Profile

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.

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