Mechanics Bank Trust Department Has $7.77 Million Position in The Home Depot, Inc. (NYSE:HD)

Mechanics Bank Trust Department boosted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 10.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,207 shares of the home improvement retailer's stock after buying an additional 1,943 shares during the period. Home Depot makes up about 1.1% of Mechanics Bank Trust Department's portfolio, making the stock its 28th biggest holding. Mechanics Bank Trust Department's holdings in Home Depot were worth $7,772,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Norges Bank purchased a new position in Home Depot in the 4th quarter worth $5,032,910,000. GAMMA Investing LLC increased its stake in shares of Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after purchasing an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Home Depot in the 4th quarter valued at about $2,212,546,000. Proficio Capital Partners LLC boosted its holdings in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after buying an additional 2,030,372 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares of the company's stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president now directly owns 17,367 shares of the company's stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Home Depot Stock Up 0.2%

HD stock traded up $0.74 during midday trading on Thursday, hitting $370.84. The company's stock had a trading volume of 815,296 shares, compared to its average volume of 3,402,198. 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 twelve month low of $323.93 and a twelve month high of $439.37. The company's fifty day moving average price is $361.54 and its 200 day moving average price is $385.28. The stock has a market capitalization of $368.96 billion, a P/E ratio of 25.19, 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 EPS 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 the consensus estimate of $39.24 billion. During the same period last year, the business earned $3.63 EPS. The business's revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company 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 $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Analyst Ratings Changes

A number of brokerages have issued reports on HD. Wedbush reissued an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and increased their target price for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Mizuho cut their price target on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Royal Bank of Canada dropped their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Finally, Guggenheim reiterated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

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.