Hoey Investments Inc. Has $2.22 Million Position in Lowe's Companies, Inc. (NYSE:LOW)

Hoey Investments Inc. lessened its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 12.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,531 shares of the home improvement retailer's stock after selling 1,406 shares during the period. Lowe's Companies comprises about 0.4% of Hoey Investments Inc.'s portfolio, making the stock its 18th largest holding. Hoey Investments Inc.'s holdings in Lowe's Companies were worth $2,223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wood Tarver Financial Group LLC acquired a new position in Lowe's Companies during the fourth quarter worth approximately $25,000. Marshall Investment Management LLC bought a new position in shares of Lowe's Companies during the 4th quarter worth approximately $31,000. Caisse Des Depots ET Consignations acquired a new position in shares of Lowe's Companies during the 4th quarter worth approximately $33,000. Orion Capital Management LLC bought a new stake in Lowe's Companies in the 4th quarter valued at $36,000. Finally, IFS Advisors LLC lifted its holdings in Lowe's Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LOW shares. BNP Paribas upgraded shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price target on the stock in a report on Friday, April 25th. DA Davidson reduced their price objective on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Bank of America lowered their target price on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. dropped their price target on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned 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 price target of $271.12.

Insider Buying and Selling at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the business'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 transaction of $257,075.00. Following the sale, the executive vice president now directly owns 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.27% of the company's stock.

Lowe's Companies Stock Performance

Shares of Lowe's Companies stock traded down $1.08 during trading on Monday, reaching $216.19. 1,193,014 shares of the company's stock were exchanged, compared to its average volume of 2,628,246. The company has a market cap of $121.16 billion, a P/E ratio of 18.03, a PEG ratio of 1.96 and a beta of 0.92. Lowe's Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The firm's 50-day moving average price is $223.77 and its 200 day moving average price is $239.65.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. During the same period in the prior year, the company earned $3.06 EPS. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio is presently 39.77%.

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.