Coho Partners Ltd. Sells 42,290 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Coho Partners Ltd. reduced its stake in Lowe's Companies by 15.1%, selling 42,290 shares and holding a total of 237,047 shares valued at approximately $52.6 million.
• Several institutional investors, including Nuveen LLC and Pacer Advisors Inc., significantly increased their positions in Lowe's during the first quarter.
• Lowe's recently reported a quarterly earnings per share of $4.33, surpassing analyst expectations, and announced a quarterly dividend of $1.20 with an annual yield of 2.0%.

Coho Partners Ltd. cut its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 15.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 237,047 shares of the home improvement retailer's stock after selling 42,290 shares during the period. Lowe's Companies makes up approximately 3.9% of Coho Partners Ltd.'s investment portfolio, making the stock its 6th largest position. Coho Partners Ltd.'s holdings in Lowe's Companies were worth $52,594,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Lowe's Companies during the 1st quarter worth approximately $681,215,000. Pacer Advisors Inc. grew its position in Lowe's Companies by 2,984.6% during the first quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer's stock worth $475,339,000 after buying an additional 1,971,996 shares in the last quarter. Wellington Management Group LLP grew its position in Lowe's Companies by 49.0% during the first quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer's stock worth $438,751,000 after buying an additional 618,775 shares in the last quarter. Invesco Ltd. grew its position in Lowe's Companies by 10.6% during the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock worth $1,214,448,000 after buying an additional 501,154 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Lowe's Companies by 6.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer's stock worth $1,192,213,000 after buying an additional 330,701 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lowe's Companies

In related news, EVP Brandon J. Sink sold 8,192 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the sale, the executive vice president owned 21,603 shares in the company, valued at $5,802,133.74. The trade was a 27.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marvin R. Ellison sold 40,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total value of $10,564,000.00. Following the sale, the chief executive officer 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. In the last 90 days, insiders sold 92,931 shares of company stock worth $24,945,752. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

LOW has been the topic of several analyst reports. Sanford C. Bernstein increased their target price on Lowe's Companies from $266.00 to $279.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. JPMorgan Chase & Co. increased their price objective on shares of Lowe's Companies from $280.00 to $283.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Citigroup reduced their price objective on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Wells Fargo & Company increased their price objective on shares of Lowe's Companies from $260.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Finally, Barclays set a $267.00 price target on shares of Lowe's Companies in a research report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $282.91.

Lowe's Companies Trading Up 0.7%

LOW opened at $243.11 on Friday. The company's 50 day moving average is $255.14 and its 200-day moving average is $234.62. Lowe's Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $285.24. The company has a market cap of $136.34 billion, a P/E ratio of 19.98, a PEG ratio of 2.24 and a beta of 0.88.

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

Lowe's Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be given a $1.20 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. Lowe's Companies's dividend payout ratio (DPR) is currently 39.44%.

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.

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