Coho Partners Ltd. Sells 112,655 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Coho Partners Ltd. decreased its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 279,337 shares of the home improvement retailer's stock after selling 112,655 shares during the quarter. Lowe's Companies makes up approximately 3.9% of Coho Partners Ltd.'s portfolio, making the stock its 6th biggest position. Coho Partners Ltd.'s holdings in Lowe's Companies were worth $65,150,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wood Tarver Financial Group LLC acquired a new stake in shares of Lowe's Companies during the 4th quarter valued at $25,000. Marshall Investment Management LLC acquired a new stake in shares of Lowe's Companies during the 4th quarter valued at $31,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Lowe's Companies during the 4th quarter valued at $33,000. Orion Capital Management LLC acquired a new stake in shares of Lowe's Companies during the 4th quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Lowe's Companies during the 1st quarter valued at $36,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Price Performance

Shares of Lowe's Companies stock opened at $212.40 on Friday. Lowe's Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The firm has a market capitalization of $119.04 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.01 and a beta of 0.92. The business has a 50-day simple moving average of $223.03 and a 200 day simple moving average of $237.78.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. During the same period in the previous year, the company posted $3.06 EPS. The firm's revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Wednesday, July 23rd. Lowe's Companies's payout ratio is currently 38.11%.

Wall Street Analysts Forecast Growth

LOW has been the topic of several recent research reports. DA Davidson cut their price objective on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. cut their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Truist Financial set a $264.00 target price on Lowe's Companies and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Bank of America cut their target price on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Lowe's Companies has a consensus rating of "Moderate Buy" and an average 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 business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the sale, the executive vice president now directly owns 31,898 shares of the company's stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.

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