Addison Advisors LLC Grows Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Addison Advisors LLC lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,132 shares of the home improvement retailer’s stock after buying an additional 46 shares during the period. Addison Advisors LLC’s holdings in Lowe’s Companies were worth $470,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Tidemark LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. purchased a new position in shares of Lowe’s Companies in the fourth quarter valued at $28,000. Transcendent Capital Group LLC purchased a new position in shares of Lowe’s Companies in the fourth quarter valued at $31,000. Stephens Consulting LLC grew its holdings in Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new stake in Lowe’s Companies during the 1st quarter worth $35,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LOW. Evercore ISI raised their target price on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. DA Davidson dropped their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Morgan Stanley raised their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus upped their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a report on Monday, May 13th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $252.83.

Lowe’s Companies Price Performance

Shares of NYSE LOW traded up $0.89 during mid-day trading on Friday, hitting $245.00. The company had a trading volume of 346,710 shares, compared to its average volume of 2,504,060. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The stock has a market cap of $139.61 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 2.04 and a beta of 1.07. The firm’s 50 day simple moving average is $236.06 and its two-hundred day simple moving average is $233.98.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period last year, the company earned $4.56 earnings per share. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities analysts forecast that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.88%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 36.95%.

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.