Lowe's Companies, Inc. $LOW Shares Sold by Chicago Capital LLC

Key Points

• Chicago Capital LLC reduced its stake in Lowe's Companies by 0.7%, owning 151,916 shares valued at $33.7 million at the end of the second quarter.
• Lowe's reported quarterly earnings of $4.33 per share, exceeding estimates, with revenues of $23.96 billion, but fell short of analyst expectations.
• The company declared a quarterly dividend of $1.20 per share, with an annualized yield of 1.9%, set to be paid on November 5th, 2023.

Chicago Capital LLC trimmed its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 151,916 shares of the home improvement retailer's stock after selling 1,085 shares during the period. Chicago Capital LLC's holdings in Lowe's Companies were worth $33,706,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LOW. Nuveen LLC acquired a new position in Lowe's Companies in the first quarter worth about $681,215,000. 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 worth $475,339,000 after purchasing an additional 1,971,996 shares in the last quarter. 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 worth $172,527,000 after purchasing an additional 675,318 shares in the last quarter. Wellington Management Group LLP grew its stake in Lowe's Companies by 49.0% in 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 purchasing an additional 618,775 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Lowe's Companies by 10.6% in the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock worth $1,214,448,000 after purchasing an additional 501,154 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Stock Performance

NYSE LOW opened at $253.35 on Tuesday. The firm has a 50-day moving average of $252.25 and a 200-day moving average of $233.55. The stock has a market cap of $142.09 billion, a PE ratio of 20.82, a P/E/G ratio of 2.38 and a beta of 0.87. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.09. The business had revenue of $23.96 billion during the quarter, compared to analysts' expectations of $23.99 billion. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The business's revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.10 EPS. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio is currently 39.44%.

Insider Buying and Selling at Lowe's Companies

In other news, CEO Marvin R. Ellison sold 40,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the sale, the chief executive officer directly owned 249,043 shares of the company's stock, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the completion of the sale, the executive vice president directly owned 66,566 shares in the company, valued at approximately $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

LOW has been the subject of a number of research reports. KeyCorp lifted their price target on Lowe's Companies from $266.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. DA Davidson lifted their target price on Lowe's Companies from $240.00 to $266.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Gordon Haskett upgraded Lowe's Companies to a "hold" rating in a research note on Wednesday, August 13th. Oppenheimer lifted their target price on Lowe's Companies from $305.00 to $320.00 and gave the company an "outperform" rating in a research note on Thursday, September 25th. Finally, JPMorgan Chase & Co. lifted their target price on Lowe's Companies from $280.00 to $283.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lowe's Companies has a consensus rating of "Moderate Buy" and an average target price of $285.50.

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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