Sunbeam Capital Management LLC Makes New $296,000 Investment in Lowe's Companies, Inc. (NYSE:LOW)

Sunbeam Capital Management LLC purchased a new stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,198 shares of the home improvement retailer's stock, valued at approximately $296,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Lowe's Companies during the fourth quarter valued at approximately $1,842,954,000. Kovitz Investment Group Partners LLC grew its holdings in shares of Lowe's Companies by 350.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer's stock valued at $585,770,000 after buying an additional 1,846,315 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Lowe's Companies during the fourth quarter valued at approximately $314,435,000. Strategic Financial Concepts LLC grew its holdings in shares of Lowe's Companies by 24,531.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock valued at $303,096,000 after buying an additional 1,223,116 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Lowe's Companies by 16.3% during the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after buying an additional 993,833 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Down 0.2%

NYSE LOW traded down $0.52 on Friday, hitting $224.41. 1,399,804 shares of the company's stock traded hands, compared to its average volume of 2,511,833. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The firm's 50-day moving average price is $224.30 and its two-hundred day moving average price is $243.46. The firm has a market capitalization of $125.60 billion, a PE ratio of 18.71, a P/E/G ratio of 1.96 and a beta of 1.00.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. During the same period in the previous year, the business posted $3.06 EPS. The business's quarterly revenue was down 2.0% compared to the same quarter last year. On average, research analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 2.14%. Lowe's Companies's payout ratio is currently 38.11%.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of recent analyst reports. Mizuho set a $280.00 price target on shares of Lowe's Companies and gave the company an "outperform" rating in a report on Thursday, May 22nd. Truist Financial set a $264.00 price target on shares of Lowe's Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Stifel Nicolaus decreased their price objective on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Tuesday. Wall Street Zen raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company cut their target price on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $271.12.

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.