Callahan Advisors LLC Reduces Stock Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Callahan Advisors LLC reduced its stock holdings in Lowe's Companies, Inc. by 1.8%, selling 1,098 shares to hold a total of 60,677 shares valued at approximately $13.46 million.
• Several other hedge funds have also modified their positions in Lowe's, with institutional investors now owning 74.06% of the company's stock.
• Analysts have recently increased their price targets for Lowe's, with the average price target now at $282.91, indicating a strong outlook for the stock with a majority rating of "Buy."

Callahan Advisors LLC lowered its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,677 shares of the home improvement retailer's stock after selling 1,098 shares during the quarter. Lowe's Companies comprises about 1.2% of Callahan Advisors LLC's holdings, making the stock its 29th biggest holding. Callahan Advisors LLC's holdings in Lowe's Companies were worth $13,462,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LOW. Fairway Wealth LLC purchased a new stake in shares of Lowe's Companies in the first quarter valued at about $32,000. Olistico Wealth LLC purchased a new stake in shares of Lowe's Companies in the second quarter valued at about $33,000. Inlight Wealth Management LLC purchased a new stake in shares of Lowe's Companies in the first quarter valued at about $36,000. TruNorth Capital Management LLC purchased a new stake in shares of Lowe's Companies in the first quarter valued at about $38,000. Finally, JNBA Financial Advisors grew its holdings in shares of Lowe's Companies by 147.1% in the first quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer's stock valued at $39,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LOW. Oppenheimer upped their price objective on shares of Lowe's Companies from $305.00 to $320.00 and gave the company an "outperform" rating in a report on Thursday, September 25th. Royal Bank Of Canada upped their target price on shares of Lowe's Companies from $243.00 to $260.00 and gave the company a "sector perform" rating in a research report on Thursday, August 21st. Truist Financial upped their target price on shares of Lowe's Companies from $264.00 to $283.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Piper Sandler upped their target price on shares of Lowe's Companies from $269.00 to $294.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Finally, Guggenheim reaffirmed a "buy" rating and issued a $300.00 target price on shares of Lowe's Companies in a research report on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $282.91.

Insider Buying and Selling at Lowe's Companies

In other news, EVP Joseph Michael Mcfarland sold 43,810 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the sale, the executive vice president owned 66,566 shares of the company's stock, valued at approximately $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the sale, the chief executive officer directly owned 249,043 shares in the company, valued at $65,772,256.30. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,931 shares of company stock worth $24,945,752 over the last ninety days. Company insiders own 0.27% of the company's stock.

Lowe's Companies Stock Performance

Shares of LOW opened at $241.76 on Thursday. The stock has a market capitalization of $135.59 billion, a PE ratio of 19.87, a P/E/G ratio of 2.23 and a beta of 0.88. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $285.24. The company's 50-day simple moving average is $255.05 and its 200-day simple moving average is $234.55.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.09. The business had revenue of $23.96 billion for the quarter, compared to analysts' expectations of $23.99 billion. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The business's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio is currently 39.44%.

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.

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