Bank of New York Mellon Corp Purchases 490,548 Shares of The Home Depot, Inc. $HD

Key Points

• Bank of New York Mellon increased its Home Depot stake by 6.4% in the fourth quarter, buying 490,548 shares and bringing its holdings to 8.1 million shares worth about $2.79 billion.
• Home Depot’s latest quarter topped expectations, with earnings per share of $3.43 and revenue of $41.77 billion, while the company reaffirmed its FY2026 guidance.
• Analyst sentiment remains mixed but generally positive: the stock has a Moderate Buy rating overall, though several firms recently lowered their price targets.

Bank of New York Mellon Corp increased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,103,189 shares of the home improvement retailer's stock after buying an additional 490,548 shares during the quarter. Home Depot accounts for approximately 0.5% of Bank of New York Mellon Corp's investment portfolio, making the stock its 27th largest position. Bank of New York Mellon Corp owned approximately 0.81% of Home Depot worth $2,788,307,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Westfuller Advisors LLC raised its holdings in Home Depot by 2.1% during the 4th quarter. Westfuller Advisors LLC now owns 1,325 shares of the home improvement retailer's stock worth $456,000 after purchasing an additional 27 shares during the last quarter. Darwin Wealth Management LLC raised its stake in Home Depot by 0.5% during the 4th quarter. Darwin Wealth Management LLC now owns 4,949 shares of the home improvement retailer's stock worth $1,703,000 after buying an additional 27 shares during the period. Alesco Advisors LLC boosted its holdings in Home Depot by 3.2% in the fourth quarter. Alesco Advisors LLC now owns 866 shares of the home improvement retailer's stock worth $298,000 after acquiring an additional 27 shares in the last quarter. Canandaigua National Trust Co of Florida grew its stake in Home Depot by 1.3% in the fourth quarter. Canandaigua National Trust Co of Florida now owns 2,178 shares of the home improvement retailer's stock valued at $749,000 after acquiring an additional 27 shares during the period. Finally, Moneco Advisors LLC increased its holdings in shares of Home Depot by 0.3% during the fourth quarter. Moneco Advisors LLC now owns 8,743 shares of the home improvement retailer's stock valued at $3,008,000 after acquiring an additional 27 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot News Summary

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

• Positive Sentiment: Home Depot’s interconnected retail strategy is being credited with lifting sales and driving double-digit online growth, even in a challenged home improvement market. Is Home Depot's Interconnected Retail Strategy Paying Off?
• Positive Sentiment: A favorable Texas Supreme Court decision limiting shipper liability in the Home Depot/Werner case may reduce long-term legal risk and investor uncertainty. Texas court nixes shipper liability in Home Depot/Werner case
• Positive Sentiment: Home Depot’s latest quarter showed revenue of $41.77 billion, beating expectations, and the company reaffirmed fiscal 2026 guidance, which can reassure investors about earnings visibility.

Analyst Upgrades and Downgrades

HD has been the subject of several research reports. Oppenheimer reduced their price target 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. Wells Fargo & Company dropped their price objective on shares of Home Depot from $375.00 to $360.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 20th. Weiss Ratings cut shares of Home Depot from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, May 26th. Wolfe Research reissued an "outperform" rating and set a $365.00 target price on shares of Home Depot in a research report on Tuesday, May 19th. Finally, Truist Financial dropped their price target on shares of Home Depot from $394.00 to $369.00 and set a "buy" rating on the stock in a research report on Tuesday, May 19th. Nineteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $371.39.

Home Depot Price Performance

Shares of NYSE HD opened at $311.21 on Wednesday. The company has a market capitalization of $310.32 billion, a PE ratio of 22.10, a PEG ratio of 3.59 and a beta of 0.97. The company has a quick ratio of 0.28, a current ratio of 1.04 and a debt-to-equity ratio of 3.23. The stock's 50 day moving average price is $324.35 and its 200-day moving average price is $349.17. The Home Depot, Inc. has a twelve month low of $289.10 and a twelve month high of $426.75.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.02. The firm had revenue of $41.77 billion during the quarter, compared to analyst estimates of $41.59 billion. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The business's revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $3.56 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.02 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be given a dividend of $2.33 per share. This represents a $9.32 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, June 4th. Home Depot's dividend payout ratio is currently 66.19%.

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.

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