The Home Depot, Inc. (NYSE:HD) Position Boosted by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 21,336 shares of the home improvement retailer’s stock after purchasing an additional 826 shares during the period. Miracle Mile Advisors LLC’s holdings in Home Depot were worth $8,185,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Bare Financial Services Inc bought a new position in shares of Home Depot during the 4th quarter valued at about $26,000. Frank Rimerman Advisors LLC bought a new position in shares of Home Depot during the 4th quarter valued at about $27,000. Keener Financial Planning LLC bought a new position in shares of Home Depot during the 4th quarter valued at about $31,000. PFG Private Wealth Management LLC boosted its position in shares of Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Gilfoyle & Co LLC bought a new position in shares of Home Depot during the 4th quarter valued at about $35,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HD. UBS Group decreased their target price on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and raised their target price for the stock from $352.00 to $395.00 in a report on Wednesday, June 26th. Bank of America raised their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a report on Tuesday, May 14th. Finally, StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.42.

Insider Activity

In other news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by company insiders.

Home Depot Price Performance

Shares of Home Depot stock opened at $336.19 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The firm has a market capitalization of $333.37 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 2.38 and a beta of 0.99. The business’s 50-day moving average price is $338.51 and its 200-day moving average price is $352.80. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. During the same period last year, the company earned $3.82 EPS. Home Depot’s revenue for the quarter was down 2.3% compared to the same quarter last year. Sell-side analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s payout ratio is presently 60.36%.

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.