Pacer Advisors Inc. Grows Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Pacer Advisors Inc. significantly increased its stake in Lowe's Companies, Inc. by 2,984.6% in Q1, acquiring nearly 2 million additional shares, making it the fund's 23rd largest position.
• Analysts have varying perspectives on Lowe's stock, with recent target prices ranging from $240 to $300, and an average rating of "Moderate Buy" as of the latest reports.
• Lowe's announced an increase in its quarterly dividend to $1.20 per share, up from $1.15, reflecting a positive approach to shareholder returns amidst fluctuating market conditions.

Pacer Advisors Inc. grew its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2,984.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,038,069 shares of the home improvement retailer's stock after acquiring an additional 1,971,996 shares during the quarter. Lowe's Companies comprises 1.1% of Pacer Advisors Inc.'s portfolio, making the stock its 23rd biggest position. Pacer Advisors Inc. owned about 0.36% of Lowe's Companies worth $475,339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LOW. Wood Tarver Financial Group LLC purchased a new stake in shares of Lowe's Companies during the fourth quarter worth about $25,000. Fairway Wealth LLC bought a new stake in Lowe's Companies in the first quarter valued at about $32,000. Caisse Des Depots ET Consignations bought a new stake in Lowe's Companies during the fourth quarter valued at $33,000. Orion Capital Management LLC bought a new position in shares of Lowe's Companies in the 4th quarter worth about $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Lowe's Companies in the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LOW shares. DA Davidson dropped their price target on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a research note on Friday, April 25th. Sanford C. Bernstein set a $266.00 price target on Lowe's Companies and gave the company an "outperform" rating in a report on Thursday, May 22nd. Royal Bank Of Canada lowered their target price on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 22nd. Finally, Morgan Stanley lowered their price objective on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Lowe's Companies presently has an average rating of "Moderate Buy" and an average price target of $271.12.

Lowe's Companies Stock Down 1.3%

Shares of NYSE LOW opened at $225.74 on Friday. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The company has a market cap of $126.51 billion, a P/E ratio of 18.70, a P/E/G ratio of 2.16 and a beta of 0.90. The business's 50 day moving average is $223.18 and its two-hundred day moving average is $232.60.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results 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. The business 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%. Lowe's Companies's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.06 earnings per share. Sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed 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 is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. 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. Lowe's Companies's dividend payout ratio is currently 39.77%.

Insider Buying and Selling

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value 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. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Lowe's Companies 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.

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