White Knight Strategic Wealth Advisors LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

White Knight Strategic Wealth Advisors LLC raised its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 95.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,852 shares of the home improvement retailer's stock after acquiring an additional 2,366 shares during the period. Home Depot makes up approximately 0.8% of White Knight Strategic Wealth Advisors LLC's holdings, making the stock its 27th biggest holding. White Knight Strategic Wealth Advisors LLC's holdings in Home Depot were worth $1,887,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after purchasing an additional 875,836 shares during the last quarter. Geode Capital Management LLC grew its position in Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock valued at $8,525,046,000 after acquiring an additional 257,036 shares during the last quarter. Norges Bank bought a new position in Home Depot in the 4th quarter valued at $5,032,910,000. Capital Research Global Investors grew its position in Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after acquiring an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp grew 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 acquiring an additional 1,424,857 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on HD shares. Robert W. Baird cut their price objective on Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a report on Wednesday. Truist Financial upped their target price on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday. Stifel Nicolaus upgraded Home Depot from a "hold" rating to a "buy" rating and upped their target price for the stock from $405.00 to $425.00 in a report on Wednesday. Finally, Jefferies Financial Group lowered their target price on Home Depot from $461.00 to $456.00 in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.92.

Home Depot Stock Down 1.7%

Home Depot stock traded down $6.34 during midday trading on Wednesday, reaching $370.71. The company's stock had a trading volume of 3,965,127 shares, compared to its average volume of 3,436,754. The stock's 50-day simple moving average is $359.38 and its 200-day simple moving average is $387.66. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock has a market capitalization of $368.50 billion, a P/E ratio of 25.18, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the prior year, the company posted $3.63 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.48%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is presently 61.66%.

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.