Lowe’s Companies, Inc. (NYSE:LOW) Holdings Cut by Summitry LLC

Summitry LLC decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOWGet Rating) by 4.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 371,420 shares of the home improvement retailer’s stock after selling 16,572 shares during the period. Lowe’s Companies comprises about 4.5% of Summitry LLC’s holdings, making the stock its 4th largest holding. Summitry LLC owned about 0.06% of Lowe’s Companies worth $75,097,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LOW. Qube Research & Technologies Ltd bought a new position in Lowe’s Companies in the 4th quarter valued at approximately $21,314,000. TFG Advisers LLC bought a new position in Lowe’s Companies in the 4th quarter valued at approximately $243,000. Round Table Services LLC bought a new position in Lowe’s Companies in the 4th quarter valued at approximately $202,000. Asahi Life Asset Management CO. LTD. bought a new position in Lowe’s Companies in the 4th quarter valued at approximately $124,000. Finally, RFG Advisory LLC lifted its holdings in shares of Lowe’s Companies by 1.7% during the 4th quarter. RFG Advisory LLC now owns 9,038 shares of the home improvement retailer’s stock valued at $2,336,000 after buying an additional 155 shares during the period. Hedge funds and other institutional investors own 75.46% of the company’s stock.

Analysts Set New Price Targets

LOW has been the topic of several research analyst reports. Jefferies Financial Group lowered their price target on Lowe’s Companies from $290.00 to $238.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Morgan Stanley lowered their price target on Lowe’s Companies from $280.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Evercore ISI lowered their price target on Lowe’s Companies to $245.00 in a report on Thursday, June 9th. JPMorgan Chase & Co. increased their price target on Lowe’s Companies from $228.00 to $230.00 and gave the company a “neutral” rating in a report on Thursday, May 19th. Finally, OTR Global lowered Lowe’s Companies to a “positive” rating in a research note on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $238.58.

Lowe’s Companies Price Performance

Shares of LOW stock traded up $0.44 during trading hours on Friday, hitting $197.60. The company had a trading volume of 54,496 shares, compared to its average volume of 3,232,065. The company’s fifty day moving average is $185.72 and its 200 day moving average is $204.16. Lowe’s Companies, Inc. has a fifty-two week low of $170.12 and a fifty-two week high of $263.31. The stock has a market capitalization of $126.29 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25.

Lowe’s Companies (NYSE:LOWGet Rating) last issued its quarterly earnings data on Wednesday, May 18th. The home improvement retailer reported $3.51 EPS for the quarter, topping the consensus estimate of $3.24 by $0.27. The firm had revenue of $23.66 billion for the quarter, compared to analyst estimates of $23.72 billion. Lowe’s Companies had a net margin of 8.85% and a negative return on equity of 251.50%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.21 EPS. Equities analysts forecast that Lowe’s Companies, Inc. will post 13.44 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 3rd. Shareholders of record on Wednesday, July 20th were issued a dividend of $1.05 per share. The ex-dividend date was Tuesday, July 19th. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.80. This represents a $4.20 dividend on an annualized basis and a yield of 2.13%. Lowe’s Companies’s dividend payout ratio is 34.23%.

Lowe’s Companies Company Profile

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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, lighting, and electrical.

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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