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

Miracle Mile Advisors LLC lifted its position in The Home Depot, Inc. (NYSE:HD) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,656 shares of the home improvement retailer’s stock after purchasing an additional 475 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Home Depot were worth $15,266,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. RDA Financial Network raised its stake in shares of Home Depot by 8.0% in the first quarter. RDA Financial Network now owns 5,183 shares of the home improvement retailer’s stock valued at $1,900,000 after purchasing an additional 384 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Home Depot by 3.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,197 shares of the home improvement retailer’s stock valued at $1,172,000 after purchasing an additional 102 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Home Depot by 6.1% in the first quarter. Revolve Wealth Partners LLC now owns 2,489 shares of the home improvement retailer’s stock valued at $912,000 after purchasing an additional 143 shares in the last quarter. Sivia Capital Partners LLC grew its position in Home Depot by 6.8% in the first quarter. Sivia Capital Partners LLC now owns 2,425 shares of the home improvement retailer’s stock valued at $889,000 after acquiring an additional 154 shares during the period. Finally, Gemmer Asset Management LLC grew its position in Home Depot by 28.4% in the first quarter. Gemmer Asset Management LLC now owns 4,517 shares of the home improvement retailer’s stock valued at $1,656,000 after acquiring an additional 1,000 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company lowered their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Royal Bank of Canada lowered their price target on Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 15th. Robert W. Baird lowered their price target 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. Piper Sandler lowered their price target 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. Finally, DA Davidson lowered their price target on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Trading Down 0.5%

Shares of HD opened at $367.45 on Friday. The company has a quick ratio of 0.31, a current ratio of 1.13 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 firm has a market capitalization of $365.59 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The stock’s fifty day simple moving average is $361.63 and its 200-day simple moving average is $384.62.

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

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is currently 62.42%.

Insiders Place Their Bets

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

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.