Lowe's Companies, Inc. (NYSE:LOW) Stock Position Lowered by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG reduced its holdings in Lowe's Companies, selling 2,066 shares, which reflects a 6.1% decrease in their stake.
• Lowe's Companies is set to increase its quarterly dividend to $1.20 per share, boosting its annual yield to 2.1%.
• In the latest earnings report, Lowe's surpassed earnings expectations with an EPS of $2.92, though revenue declined 2.0% year-over-year.

Raiffeisen Bank International AG trimmed its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,809 shares of the home improvement retailer's stock after selling 2,066 shares during the period. Raiffeisen Bank International AG's holdings in Lowe's Companies were worth $7,266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of LOW. Blair William & Co. IL lifted its position in shares of Lowe's Companies by 0.3% in the first quarter. Blair William & Co. IL now owns 321,867 shares of the home improvement retailer's stock worth $75,069,000 after buying an additional 1,092 shares in the last quarter. Cheviot Value Management LLC bought a new stake in Lowe's Companies in the first quarter worth $49,000. J. Safra Sarasin Holding AG increased its position in Lowe's Companies by 45.8% in the first quarter. J. Safra Sarasin Holding AG now owns 154,571 shares of the home improvement retailer's stock worth $36,051,000 after purchasing an additional 48,552 shares during the last quarter. Banco Santander S.A. increased its position in Lowe's Companies by 18.6% in the first quarter. Banco Santander S.A. now owns 3,992 shares of the home improvement retailer's stock worth $931,000 after purchasing an additional 626 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its stake in Lowe's Companies by 43.8% during the first quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 4,600 shares of the home improvement retailer's stock worth $1,073,000 after buying an additional 1,400 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Trading Up 0.4%

Shares of Lowe's Companies stock traded up $0.89 during trading hours on Wednesday, reaching $238.35. The stock had a trading volume of 2,448,656 shares, compared to its average volume of 2,660,958. The firm has a 50 day simple moving average of $223.53 and a two-hundred day simple moving average of $231.23. The firm has a market capitalization of $133.58 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 2.21 and a beta of 0.89. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating the consensus estimate of $2.88 by $0.04. The business had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company's revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $3.06 EPS. Sell-side analysts forecast 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. Stockholders of record on Wednesday, July 23rd will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, July 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is 39.77%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Tuesday, May 27th. Wells Fargo & Company lowered their price objective on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. DA Davidson reduced their target price on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $270.68.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 31,898 shares in the company, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.27% of the company's stock.

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.