MRA Advisory Group Increases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

MRA Advisory Group increased its holdings in The Home Depot, Inc. (NYSE:HD) by 10.2% in the first quarter, HoldingsChannel.com reports. The fund owned 1,873 shares of the home improvement retailer’s stock after acquiring an additional 174 shares during the period. MRA Advisory Group’s holdings in Home Depot were worth $686,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the fourth quarter worth $28,000. Navigoe LLC bought a new position in Home Depot in the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the fourth quarter worth $32,000. Quarry LP raised its holdings in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares in the last quarter. Finally, Marshall Investment Management LLC bought a new position in Home Depot in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.9%

Home Depot stock opened at $368.97 on Friday. The business has a 50-day simple moving average of $361.58 and a two-hundred day simple moving average of $384.99. The company has a market cap of $367.10 billion, a P/E ratio of 25.07, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 52-week low of $323.93 and a 52-week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.49%. Home Depot’s payout ratio is currently 62.42%.

Insider Activity

In other news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated 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 transaction, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on HD. Piper Sandler decreased their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. DA Davidson reduced their price target on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Sanford C. Bernstein restated a “market perform” rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Gordon Haskett raised their price target on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Finally, Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $426.77.

Home Depot 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.