Bank of New York Mellon Corp cut its stake in The Home Depot, Inc. (NYSE:HD) by 7.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,305,435 shares of the home improvement retailer’s stock after selling 884,795 shares during the period. The Home Depot makes up 0.7% of Bank of New York Mellon Corp’s holdings, making the stock its 21st largest position. Bank of New York Mellon Corp owned approximately 1.06% of The Home Depot worth $3,605,189,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Providence Capital Advisors LLC boosted its holdings in The Home Depot by 2.2% during the second quarter. Providence Capital Advisors LLC now owns 15,783 shares of the home improvement retailer’s stock worth $5,033,000 after purchasing an additional 343 shares during the last quarter. Clark Capital Management Group Inc. boosted its stake in shares of The Home Depot by 3.3% during the 2nd quarter. Clark Capital Management Group Inc. now owns 99,872 shares of the home improvement retailer’s stock worth $31,848,000 after buying an additional 3,213 shares during the last quarter. LaFleur & Godfrey LLC grew its holdings in shares of The Home Depot by 490.0% in the 2nd quarter. LaFleur & Godfrey LLC now owns 13,812 shares of the home improvement retailer’s stock valued at $4,405,000 after acquiring an additional 11,471 shares in the last quarter. GW Henssler & Associates Ltd. increased its position in shares of The Home Depot by 4.7% in the second quarter. GW Henssler & Associates Ltd. now owns 25,494 shares of the home improvement retailer’s stock valued at $8,130,000 after acquiring an additional 1,156 shares during the last quarter. Finally, Frisch Financial Group Inc. raised its holdings in The Home Depot by 11.3% during the first quarter. Frisch Financial Group Inc. now owns 7,347 shares of the home improvement retailer’s stock worth $2,243,000 after acquiring an additional 748 shares in the last quarter. Hedge funds and other institutional investors own 68.97% of the company’s stock.
A number of brokerages have commented on HD. Raymond James increased their price target on shares of The Home Depot from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, August 16th. Jefferies Financial Group reduced their target price on The Home Depot from $380.00 to $369.00 and set a “buy” rating for the company in a research note on Wednesday, August 18th. Zacks Investment Research cut The Home Depot from a “strong-buy” rating to a “hold” rating and set a $338.00 price target on the stock. in a research note on Tuesday, July 20th. Morgan Stanley raised their price target on The Home Depot from $340.00 to $345.00 and gave the company an “overweight” rating in a report on Monday, May 24th. Finally, DA Davidson reiterated a “neutral” rating on shares of The Home Depot in a research note on Wednesday, August 18th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $341.25.
The Home Depot (NYSE:HD) last announced its earnings results on Monday, August 16th. The home improvement retailer reported $4.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.10. The Home Depot had a return on equity of 709.19% and a net margin of 10.55%. The firm had revenue of $41.12 billion for the quarter, compared to the consensus estimate of $40.74 billion. During the same period in the previous year, the business earned $4.02 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts expect that The Home Depot, Inc. will post 14.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 16th. Investors of record on Thursday, September 2nd were issued a $1.65 dividend. The ex-dividend date was Wednesday, September 1st. This represents a $6.60 annualized dividend and a yield of 1.98%. The Home Depot’s payout ratio is 54.86%.
In other The Home Depot news, EVP Teresa Wynn Roseborough sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $328.65, for a total value of $1,643,250.00. Following the completion of the sale, the executive vice president now owns 19,760 shares of the company’s stock, valued at $6,494,124. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Craig A. Menear sold 68,468 shares of The Home Depot stock in a transaction on Friday, August 20th. The shares were sold at an average price of $325.46, for a total transaction of $22,283,595.28. The disclosure for this sale can be found here. Insiders have sold 74,622 shares of company stock worth $24,302,611 in the last ninety days. Insiders own 0.18% of the company’s stock.
The Home Depot Profile
The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.
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