Allen Investment Management LLC cut its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 91.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,094 shares of the home improvement retailer's stock after selling 642,589 shares during the period. Allen Investment Management LLC's holdings in Lowe's Companies were worth $13,316,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its holdings in Lowe's Companies by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock valued at $29,223,000 after purchasing an additional 1,470 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in Lowe's Companies by 14.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock valued at $26,236,000 after buying an additional 13,092 shares in the last quarter. World Investment Advisors lifted its stake in Lowe's Companies by 11.0% in the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after buying an additional 2,615 shares in the last quarter. Larson Financial Group LLC lifted its stake in Lowe's Companies by 8.1% in the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer's stock valued at $3,860,000 after buying an additional 1,242 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Lowe's Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after purchasing an additional 993,833 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.
Lowe's Companies Price Performance
Shares of NYSE:LOW traded down $0.04 on Wednesday, reaching $230.01. The company's stock had a trading volume of 707,697 shares, compared to its average volume of 2,635,215. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01. The stock's 50-day moving average is $222.93 and its two-hundred day moving average is $232.12. The stock has a market capitalization of $128.90 billion, a P/E ratio of 19.04, a PEG ratio of 2.17 and a beta of 0.90.
Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. During the same period in the prior year, the business posted $3.06 earnings per share. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. Equities analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.
Lowe's Companies Increases Dividend
The firm also recently declared 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 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio is 39.77%.
Wall Street Analysts Forecast Growth
LOW has been the topic of a number of research reports. Citigroup reissued a "neutral" rating and issued a $253.00 target price (down from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. Wells Fargo & Company dropped their target price 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. Morgan Stanley dropped their price target on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Telsey Advisory Group restated an "outperform" rating and issued a $305.00 price target on shares of Lowe's Companies in a research note on Wednesday, May 21st. Finally, KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price objective for the company in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $271.12.
View Our Latest Report on LOW
Insider Activity
In related news, EVP Juliette Williams Pryor sold 1,130 shares of the company'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 transaction, the executive vice president owned 31,898 shares of the company's stock, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.27% of the company's stock.
Lowe's Companies Company Profile
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Free Report)
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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