Bank of New York Mellon Corp Sells 227,459 Shares of The Home Depot, Inc. (NYSE:HD)

Bank of New York Mellon Corp lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 8,302,820 shares of the home improvement retailer’s stock after selling 227,459 shares during the period. Home Depot accounts for approximately 0.6% of Bank of New York Mellon Corp’s holdings, making the stock its 23rd largest position. Bank of New York Mellon Corp’s holdings in Home Depot were worth $3,229,714,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HD. POM Investment Strategies LLC raised its stake in shares of Home Depot by 1.1% during the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after purchasing an additional 24 shares during the period. Center for Financial Planning Inc. grew its position in Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after buying an additional 24 shares during the period. Insight Inv LLC increased its holdings in Home Depot by 2.0% during the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after buying an additional 25 shares during the last quarter. Marino Stram & Associates LLC boosted its stake in Home Depot by 2.3% in the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after acquiring an additional 25 shares during the last quarter. Finally, Live Oak Private Wealth LLC grew its position in shares of Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HD. Bank of America upped their price objective on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Stifel Nicolaus upped their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Royal Bank of Canada upped their price target on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company boosted their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $433.44.

Home Depot Stock Performance

Shares of NYSE HD opened at $381.12 on Tuesday. The stock has a market cap of $378.59 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The stock’s 50-day moving average is $401.53 and its 200 day moving average is $398.16.

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.