Mechanics Bank Trust Department Sells 208 Shares of The Home Depot, Inc. (NYSE:HD)

Mechanics Bank Trust Department reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,680 shares of the home improvement retailer’s stock after selling 208 shares during the quarter. Mechanics Bank Trust Department’s holdings in Home Depot were worth $6,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bare Financial Services Inc bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $26,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Home Depot in the 4th quarter worth about $27,000. Keener Financial Planning LLC bought a new position in shares of Home Depot in the 4th quarter worth approximately $31,000. Burkett Financial Services LLC bought a new position in Home Depot in the fourth quarter worth $38,000. Finally, A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Home Depot during the first quarter valued at approximately $38,000. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HD shares. Stifel Nicolaus upped their price objective on Home Depot from $374.00 to $380.00 and gave the stock a “hold” rating in a research note on Monday, July 15th. DA Davidson raised shares of Home Depot from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $352.00 to $395.00 in a research note on Wednesday, June 26th. UBS Group reduced their price objective on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and set a $410.00 price target on shares of Home Depot in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $384.00.

Home Depot Stock Up 0.1 %

Shares of Home Depot stock traded up $0.30 during trading hours on Friday, hitting $348.64. The company had a trading volume of 2,314,771 shares, compared to its average volume of 3,403,096. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The company has a market cap of $345.72 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The company’s 50-day moving average is $348.16 and its two-hundred day moving average is $353.22.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. During the same quarter last year, the company posted $3.82 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.58%. Home Depot’s payout ratio is 60.36%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.