FARMERS & MERCHANTS TRUST Co OF LONG BEACH Acquires 273 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% in the first quarter, Holdings Channel reports. The firm owned 11,847 shares of the home improvement retailer’s stock after purchasing an additional 273 shares during the period. Lowe’s Companies accounts for 0.7% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s investment portfolio, making the stock its 28th largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Lowe’s Companies were worth $3,018,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of LOW. Schonfeld Strategic Advisors LLC lifted its position in shares of Lowe’s Companies by 33.5% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 90,203 shares of the home improvement retailer’s stock valued at $18,748,000 after buying an additional 22,645 shares during the last quarter. Shelton Capital Management lifted its position in shares of Lowe’s Companies by 7.2% during the 3rd quarter. Shelton Capital Management now owns 31,425 shares of the home improvement retailer’s stock valued at $6,531,000 after buying an additional 2,100 shares during the last quarter. Advanced Portfolio Management LLC purchased a new position in shares of Lowe’s Companies during the 3rd quarter valued at $1,288,000. Axxcess Wealth Management LLC lifted its position in shares of Lowe’s Companies by 64.9% during the 3rd quarter. Axxcess Wealth Management LLC now owns 14,873 shares of the home improvement retailer’s stock valued at $3,091,000 after buying an additional 5,856 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Lowe’s Companies by 6.8% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 683,598 shares of the home improvement retailer’s stock valued at $142,079,000 after buying an additional 43,400 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.5 %

Shares of Lowe’s Companies stock traded down $1.06 during trading on Tuesday, hitting $212.50. 642,874 shares of the stock traded hands, compared to its average volume of 2,539,632. The stock has a market cap of $121.09 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.69 and a beta of 1.08. The firm’s fifty day moving average is $225.32 and its 200-day moving average is $228.49. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period last year, the company earned $3.67 EPS. Lowe’s Companies’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, analysts forecast that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.28%. Lowe’s Companies’s payout ratio is 35.34%.

Analyst Ratings Changes

A number of brokerages have recently commented on LOW. Oppenheimer reaffirmed a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Monday, March 4th. Citigroup dropped their price objective on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Gordon Haskett reissued a “hold” rating and set a $245.00 price objective on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $246.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Lowe’s Companies has an average rating of “Hold” and a consensus price target of $251.33.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also 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, and electrical.