Mediolanum International Funds Ltd Has $4.21 Million Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Mediolanum International Funds Ltd reduced its holdings in Lowe's Companies by 25.3%, selling 6,249 shares during the first quarter, bringing its total to 18,407 shares worth $4,205,000.
• Lowe's Companies recently reported earnings of $2.92 per share for the quarter, which surpassed analysts' expectations of $2.88, although its revenue declined by 2.0% year-over-year.
• The company declared an increase in its quarterly dividend to $1.20 per share, up from $1.15, representing an annualized yield of 2.12% and a payout ratio of 39.77%.

Mediolanum International Funds Ltd lowered its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 25.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 18,407 shares of the home improvement retailer's stock after selling 6,249 shares during the period. Mediolanum International Funds Ltd's holdings in Lowe's Companies were worth $4,205,000 as of its most recent SEC filing.

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 4th quarter valued at about $25,000. Fairway Wealth LLC bought a new stake in shares of Lowe's Companies in the 1st quarter worth approximately $32,000. Orion Capital Management LLC bought a new stake in shares of Lowe's Companies in the 4th quarter worth approximately $36,000. Inlight Wealth Management LLC bought a new stake in shares of Lowe's Companies in the 1st quarter worth approximately $36,000. Finally, IFS Advisors LLC raised its holdings in shares of Lowe's Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 60 shares during the period. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Down 0.9%

NYSE:LOW traded down $2.14 during mid-day trading on Thursday, reaching $225.29. 800,777 shares of the company were exchanged, compared to its average volume of 2,631,575. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The company has a fifty day moving average of $222.93 and a 200 day moving average of $232.09. The stock has a market cap of $126.26 billion, a PE ratio of 18.66, 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 (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.06 EPS. On average, equities research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

Analyst Ratings Changes

LOW has been the topic of a number of recent analyst reports. KeyCorp upgraded 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. Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research report on Wednesday, May 21st. Royal Bank Of Canada decreased their target price on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research report on Thursday, May 22nd. Mizuho reaffirmed an "outperform" rating and set a $280.00 price objective on shares of Lowe's Companies in a report on Friday, June 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $271.12.

Insiders Place Their Bets

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies 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 $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by insiders.

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.