Lowe's Companies, Inc. $LOW Shares Sold by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC has reduced its stake in Lowe's Companies, Inc. by 34.3%, now holding 5,433 shares worth approximately $1.205 million.
• The recent analysts' ratings show several firms increasing price targets for Lowe's, with a consensus target price now at $284.13 and a majority rating of "Buy".
• CEO Marvin R. Ellison sold 40,000 shares of Lowe's stock for over $10.5 million, marking a significant decrease in his ownership stake.

Procyon Advisors LLC decreased its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 34.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,433 shares of the home improvement retailer's stock after selling 2,838 shares during the period. Procyon Advisors LLC's holdings in Lowe's Companies were worth $1,205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wood Tarver Financial Group LLC purchased a new stake in shares of Lowe's Companies in the 4th quarter worth approximately $25,000. Fairway Wealth LLC purchased a new stake in shares of Lowe's Companies in the 1st quarter worth approximately $32,000. Orion Capital Management LLC purchased a new stake in shares of Lowe's Companies in the 4th quarter worth approximately $36,000. Inlight Wealth Management LLC purchased a new stake in shares of Lowe's Companies in the 1st quarter worth approximately $36,000. Finally, IFS Advisors LLC grew its stake in shares of Lowe's Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after buying an additional 60 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Insider Buying and Selling at Lowe's Companies

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total value of $11,942,606.00. Following the completion of the transaction, the executive vice president owned 66,566 shares of the company's stock, valued at $18,145,891.60. The trade was a 39.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the completion of the transaction, the chief executive officer directly owned 249,043 shares of the company's stock, valued at $65,772,256.30. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,931 shares of company stock worth $24,945,752. 0.27% of the stock is currently owned by corporate insiders.

Lowe's Companies Price Performance

Shares of NYSE:LOW traded down $1.89 during trading hours on Friday, hitting $265.68. 4,079,028 shares of the company's stock traded hands, compared to its average volume of 2,502,386. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01. The business has a fifty day moving average price of $247.63 and a 200-day moving average price of $232.64. The firm has a market capitalization of $149.00 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 2.48 and a beta of 0.87.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.09. Lowe's Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The business had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the previous year, the business earned $4.10 earnings per share. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, equities analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be paid a $0.012 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $0.05 dividend on an annualized basis and a yield of 0.0%. Lowe's Companies's payout ratio is 39.44%.

Analyst Upgrades and Downgrades

LOW has been the topic of several recent research reports. Wolfe Research initiated coverage on Lowe's Companies in a research note on Wednesday. They issued an "outperform" rating on the stock. Gordon Haskett upgraded Lowe's Companies to a "hold" rating in a research note on Wednesday, August 13th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a research report on Thursday, August 21st. Robert W. Baird upped their price objective on Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Finally, Sanford C. Bernstein upped their price objective on Lowe's Companies from $266.00 to $279.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Seventeen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $285.08.

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.