Chevy Chase Trust Holdings LLC Cuts Stake in Lowe's Companies, Inc. (NYSE:LOW)

Chevy Chase Trust Holdings LLC cut its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 298,910 shares of the home improvement retailer's stock after selling 1,605 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Lowe's Companies worth $69,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of LOW. Norges Bank bought a new stake in shares of Lowe's Companies during the 4th quarter worth $1,842,954,000. Kovitz Investment Group Partners LLC raised its position in 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 purchasing an additional 1,846,315 shares in the last quarter. GAMMA Investing LLC raised its position in Lowe's Companies by 26,796.0% during the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer's stock valued at $386,540,000 after purchasing an additional 1,651,170 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Lowe's Companies during the fourth quarter worth about $314,435,000. Finally, Northern Trust Corp boosted its holdings in shares of Lowe's Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after purchasing an additional 993,833 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Price Performance

Lowe's Companies stock traded up $0.78 during mid-day trading on Wednesday, reaching $220.76. 2,081,662 shares of the company traded hands, compared to its average volume of 2,535,143. Lowe's Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The firm has a market capitalization of $123.72 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.07 and a beta of 0.92. The firm's 50 day moving average price is $222.91 and its 200 day moving average price is $237.06.

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

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is presently 38.11%.

Insider Activity at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were 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 now directly owns 31,898 shares in the company, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of research reports. Morgan Stanley decreased their price objective on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Citigroup reiterated a "neutral" rating and set a $253.00 price target (down from $269.00) on shares of Lowe's Companies in a research report on Wednesday, May 14th. Truist Financial set a $264.00 price target on shares of Lowe's Companies and gave the stock a "buy" rating in a research note on Thursday, May 22nd. DA Davidson reduced their target price on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Finally, KeyCorp upgraded shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a research report on Friday, April 25th. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.