Mackenzie Financial Corp Sells 7,326 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Mackenzie Financial Corp cut its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,672 shares of the home improvement retailer's stock after selling 7,326 shares during the period. Mackenzie Financial Corp's holdings in Lowe's Companies were worth $35,458,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Marshall Investment Management LLC purchased a new position in shares of Lowe's Companies in the 4th quarter valued at $31,000. Caisse Des Depots ET Consignations bought a new stake in shares of Lowe's Companies during the 4th quarter worth about $33,000. Orion Capital Management LLC bought a new stake in shares of Lowe's Companies in the 4th quarter worth approximately $36,000. Measured Risk Portfolios Inc. purchased a new position in Lowe's Companies during the fourth quarter valued at approximately $42,000. Finally, Millstone Evans Group LLC purchased a new position in Lowe's Companies during the fourth quarter valued at approximately $44,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Price Performance

Lowe's Companies stock traded down $1.09 during trading hours on Wednesday, hitting $224.72. The stock had a trading volume of 2,213,187 shares, compared to its average volume of 2,514,542. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The stock's fifty day moving average is $224.51 and its two-hundred day moving average is $243.93. The stock has a market capitalization of $125.78 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.96 and a beta of 1.00.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results 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. The company 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 47.55% and a net margin of 8.19%. Lowe's Companies's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.06 EPS. As a group, sell-side analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were paid a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.05%. Lowe's Companies's payout ratio is presently 38.11%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LOW. Sanford C. Bernstein set a $266.00 target price on shares of Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Morgan Stanley dropped their target price on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Robert W. Baird decreased their target price on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Wells Fargo & Company dropped their target price on 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, Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

Lowe's Companies Company 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.