Lowe’s Companies, Inc. (NYSE:LOW) Holdings Raised by Zhang Financial LLC

Zhang Financial LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,549 shares of the home improvement retailer’s stock after purchasing an additional 46 shares during the quarter. Zhang Financial LLC’s holdings in Lowe’s Companies were worth $1,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BTC Capital Management Inc. raised its holdings in shares of Lowe’s Companies by 1.9% during the 2nd quarter. BTC Capital Management Inc. now owns 31,389 shares of the home improvement retailer’s stock valued at $6,920,000 after purchasing an additional 583 shares in the last quarter. Western Wealth Management LLC grew its stake in Lowe’s Companies by 0.7% in the 2nd quarter. Western Wealth Management LLC now owns 7,814 shares of the home improvement retailer’s stock valued at $1,723,000 after buying an additional 53 shares during the last quarter. Vista Investment Partners LLC grew its stake in Lowe’s Companies by 3.5% in the 2nd quarter. Vista Investment Partners LLC now owns 2,965 shares of the home improvement retailer’s stock valued at $654,000 after buying an additional 99 shares during the last quarter. Raymond James & Associates grew its stake in Lowe’s Companies by 1.9% in the 2nd quarter. Raymond James & Associates now owns 771,306 shares of the home improvement retailer’s stock valued at $170,042,000 after buying an additional 14,329 shares during the last quarter. Finally, Boomfish Wealth Group LLC grew its stake in Lowe’s Companies by 4.4% in the 2nd quarter. Boomfish Wealth Group LLC now owns 10,895 shares of the home improvement retailer’s stock valued at $2,402,000 after buying an additional 456 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW stock traded up $1.77 during trading hours on Monday, reaching $242.92. 1,073,180 shares of the company were exchanged, compared to its average volume of 2,520,389. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The stock’s fifty day moving average is $229.89 and its two-hundred day moving average is $231.88. The company has a market cap of $138.42 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 1.85 and a beta of 1.07.

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

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.25%. The ex-dividend date was Wednesday, July 24th. Lowe’s Companies’s payout ratio is presently 36.95%.

Analyst Ratings Changes

A number of research analysts recently issued reports on LOW shares. DA Davidson lowered their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $246.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Lowe’s Companies from $268.00 to $272.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Truist Financial decreased their price target on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $250.19.

Lowe’s Companies 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.