Bank of New York Mellon Corp Reduces Position in Lowe's Companies, Inc. (NYSE:LOW)

Bank of New York Mellon Corp cut its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,086,764 shares of the home improvement retailer's stock after selling 99,956 shares during the period. Bank of New York Mellon Corp owned approximately 0.73% of Lowe's Companies worth $953,156,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Lowe's Companies by 119.7% in the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock valued at $7,889,000 after acquiring an additional 17,413 shares during the period. Revolve Wealth Partners LLC boosted its stake in Lowe's Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after buying an additional 259 shares during the last quarter. Assetmark Inc. boosted its stake in Lowe's Companies by 17.9% during the fourth quarter. Assetmark Inc. now owns 54,803 shares of the home improvement retailer's stock valued at $13,525,000 after buying an additional 8,304 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Lowe's Companies by 72.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,429 shares of the home improvement retailer's stock valued at $846,000 after buying an additional 1,444 shares during the last quarter. Finally, Dana Investment Advisors Inc. boosted its stake in Lowe's Companies by 10.6% during the fourth quarter. Dana Investment Advisors Inc. now owns 8,827 shares of the home improvement retailer's stock valued at $2,178,000 after buying an additional 845 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the transaction, the executive vice president owned 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

LOW has been the subject of a number of research reports. Piper Sandler dropped their price target on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Robert W. Baird decreased their price target on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Royal Bank Of Canada decreased their price target on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research note on Thursday, May 22nd. Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Finally, KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and a consensus price target of $271.12.

Lowe's Companies Price Performance

Shares of LOW stock opened at $228.00 on Friday. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The stock's fifty day moving average price is $223.98 and its 200 day moving average price is $235.03. The company has a market cap of $127.78 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 2.16 and a beta of 0.90.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the previous year, the business earned $3.06 EPS. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.11%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is currently 38.11%.

About Lowe's Companies

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.

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