Lowe's Companies, Inc. (NYSE:LOW) Shares Acquired by Banque Pictet & Cie SA

Banque Pictet & Cie SA raised its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,102 shares of the home improvement retailer's stock after buying an additional 3,376 shares during the period. Banque Pictet & Cie SA's holdings in Lowe's Companies were worth $11,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LOW. State of Alaska Department of Revenue lifted its position in Lowe's Companies by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock valued at $29,223,000 after acquiring an additional 1,470 shares during the last quarter. Aptus Capital Advisors LLC boosted its position in shares of Lowe's Companies by 14.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock valued at $26,236,000 after purchasing an additional 13,092 shares during the period. World Investment Advisors grew its stake in Lowe's Companies by 11.0% during the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock worth $6,498,000 after buying an additional 2,615 shares during the last quarter. Great Lakes Advisors LLC increased its position in Lowe's Companies by 1.5% during the fourth quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer's stock worth $116,696,000 after buying an additional 7,187 shares during the period. Finally, Northern Trust Corp lifted its stake in Lowe's Companies by 16.3% in 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. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Price Performance

Shares of NYSE LOW traded down $3.79 on Friday, hitting $224.12. The company's stock had a trading volume of 1,840,145 shares, compared to its average volume of 2,498,453. The stock has a 50 day moving average of $224.20 and a 200-day moving average of $234.42. The company has a market capitalization of $125.61 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 2.13 and a beta of 0.90. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. Lowe's Companies's revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.06 EPS. Sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 EPS 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 an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.14%. Lowe's Companies's payout ratio is presently 39.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LOW shares. Stifel Nicolaus lowered their target price 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, May 27th. Robert W. Baird lowered their target price on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Piper Sandler cut 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. Wells Fargo & Company decreased their price target on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, Royal Bank Of Canada dropped their price objective on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

Insiders Place Their Bets

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares of the company's stock, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company's stock.

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.