Miracle Mile Advisors LLC Acquires 19,441 Shares of The Home Depot, Inc. (NYSE:HD)

Miracle Mile Advisors LLC lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 89.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,181 shares of the home improvement retailer’s stock after buying an additional 19,441 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Home Depot were worth $16,019,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HD. Fairway Wealth LLC bought a new position in Home Depot in the second quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot in the 3rd quarter valued at $41,000. Livelsberger Financial Advisory bought a new position in shares of Home Depot in the 3rd quarter worth $46,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Home Depot during the second quarter worth $47,000. Finally, Quarry LP increased its holdings in Home Depot by 36.0% in the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after purchasing an additional 36 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Stifel Nicolaus raised their target price on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays boosted their price objective on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Oppenheimer increased their target price on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Morgan Stanley boosted their price target on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Truist Financial raised their price objective on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. This represents a 17.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 over the last 90 days. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Down 0.1 %

NYSE:HD opened at $389.65 on Tuesday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The firm has a market capitalization of $387.06 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. 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 stock’s 50 day moving average price is $406.03 and its two-hundred day moving average price is $386.31.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the previous year, the company earned $3.81 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

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.