Legacy Capital Wealth Partners LLC Sells 1,208 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Legacy Capital Wealth Partners LLC cut its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 21.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,304 shares of the home improvement retailer's stock after selling 1,208 shares during the period. Legacy Capital Wealth Partners LLC's holdings in Lowe's Companies were worth $1,004,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LOW. Wood Tarver Financial Group LLC acquired a new stake in shares of Lowe's Companies in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC acquired a new stake in shares of Lowe's Companies in the first quarter valued at approximately $32,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Lowe's Companies in the fourth quarter valued at approximately $33,000. Orion Capital Management LLC acquired a new stake in shares of Lowe's Companies in the fourth quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Lowe's Companies in the first quarter valued at approximately $36,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

LOW has been the topic of a number of research analyst reports. Sanford C. Bernstein set a $266.00 price target on shares of Lowe's Companies and gave the company an "outperform" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. dropped their price target on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. 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. Wells Fargo & Company decreased their price target on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, Citigroup reissued a "neutral" rating and set a $253.00 target price (down from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. One equities 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $271.12.

Lowe's Companies Stock Down 0.0%

Shares of NYSE:LOW traded down $0.09 during midday trading on Friday, hitting $218.49. The stock had a trading volume of 942,771 shares, compared to its average volume of 2,491,271. Lowe's Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01. The business's 50-day simple moving average is $223.67 and its 200-day simple moving average is $233.40. The company has a market cap of $122.45 billion, a P/E ratio of 18.10, a PEG ratio of 2.05 and a beta of 0.90.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. During the same period in the previous year, the business posted $3.06 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current 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 paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is 38.11%.

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.