Miracle Mile Advisors LLC Has $15.27 Million Position in The Home Depot, Inc. (NYSE:HD)

Miracle Mile Advisors LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.2% during the first quarter, HoldingsChannel reports. The firm owned 41,656 shares of the home improvement retailer’s stock after acquiring an additional 475 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Home Depot were worth $15,266,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Home Depot in the 4th quarter valued at approximately $5,032,910,000. GAMMA Investing LLC raised its position in Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after buying an additional 10,210,851 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Home Depot in the 4th quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC raised its position in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares during the last quarter. Finally, Northern Trust Corp raised its position in Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after buying an additional 1,424,857 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Piper Sandler dropped their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Robert W. Baird dropped their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 21st. Morgan Stanley restated an “overweight” rating and issued a $415.00 price target (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $398.00 price target (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Stock Performance

Shares of NYSE HD opened at $367.45 on Friday. 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 12 month low of $326.31 and a 12 month high of $439.37. The stock has a 50 day moving average of $361.63 and a 200-day moving average of $384.62. The company has a market capitalization of $365.59 billion, a P/E ratio of 24.96, a P/E/G ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.63 earnings per share. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.50%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Company Profile

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.