J. Safra Sarasin Holding AG Purchases 48,552 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• J. Safra Sarasin Holding AG increased its stake in Lowe's Companies, Inc. by 45.8%, owning 154,571 shares worth approximately $36.05 million as of the latest SEC filing.
• The company recently declared a quarterly dividend of $1.20, up from $1.15, representing an annualized yield of 2.1%.
• Lowe's reported $2.92 EPS for the quarter, exceeding expectations, but its revenue of $20.93 billion fell short of forecasts.

J. Safra Sarasin Holding AG increased its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 45.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,571 shares of the home improvement retailer's stock after purchasing an additional 48,552 shares during the period. J. Safra Sarasin Holding AG's holdings in Lowe's Companies were worth $36,051,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LOW. Pacer Advisors Inc. grew its stake in Lowe's Companies by 2,984.6% in the first quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer's stock valued at $475,339,000 after acquiring an additional 1,971,996 shares during the period. Kovitz Investment Group Partners LLC grew its stake in Lowe's Companies by 350.2% in 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 acquiring an additional 1,846,315 shares during the period. GAMMA Investing LLC grew its stake in Lowe's Companies by 26,796.0% in 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 acquiring an additional 1,651,170 shares during the period. Northern Trust Corp grew 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 acquiring an additional 993,833 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Lowe's Companies by 1,048.5% in the first quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer's stock valued at $172,527,000 after acquiring an additional 675,318 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citigroup decreased their target price on Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a research note on Thursday. Mizuho reaffirmed an "outperform" rating and set a $280.00 price objective on shares of Lowe's Companies in a research report on Friday, June 13th. Wells Fargo & Company reduced their price objective on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. reduced their price objective on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $270.68.

Insider Transactions at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president owned 31,898 shares of the company's stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.

Lowe's Companies Price Performance

NYSE:LOW traded up $2.76 during trading hours on Friday, reaching $226.33. 3,400,746 shares of the company were exchanged, compared to its average volume of 2,592,199. The company has a market capitalization of $126.84 billion, a P/E ratio of 18.75, a P/E/G ratio of 2.14 and a beta of 0.89. Lowe's Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The business has a 50 day moving average of $223.03 and a 200 day moving average of $231.38.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. The business had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.06 earnings per share. As a group, equities research analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. This is an increase 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 2.1%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 39.77%.

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.