Swiss National Bank Sells 10,100 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• The Swiss National Bank has reduced its holdings in Lowe's Companies, Inc. by 0.6% to own approximately 1,592,500 shares, valued at $371.42 million.
• Lowe's reported $2.92 EPS for the last quarter, exceeding analysts' estimates, but experienced a 2.0% decline in revenue compared to the same period last year.
• The company announced an increase in its quarterly dividend to $1.20 per share, reflecting a positive shift from its previous dividend of $1.15.

Swiss National Bank cut its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,592,500 shares of the home improvement retailer's stock after selling 10,100 shares during the period. Swiss National Bank owned 0.28% of Lowe's Companies worth $371,419,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its stake in Lowe's Companies by 1.2% during the 1st 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 boosted its stake in Lowe's Companies by 14.0% during 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 purchasing an additional 13,092 shares during the last quarter. Larson Financial Group LLC boosted its stake in Lowe's Companies by 8.1% during 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 purchasing an additional 1,242 shares during the last quarter. Northern Trust Corp boosted its stake in Lowe's Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after purchasing an additional 993,833 shares during the last quarter. Finally, Cornerstone Wealth Group LLC boosted its stake in Lowe's Companies by 12.6% during the 1st quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer's stock valued at $6,848,000 after purchasing an additional 3,295 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the firm'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 completion of the transaction, the executive vice president owned 31,898 shares of the company's stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. DA Davidson cut their price target on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Robert W. Baird cut their target price on Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. KeyCorp upgraded 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. JPMorgan Chase & Co. cut their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, Sanford C. Bernstein set a $266.00 target price on Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $270.68.

Lowe's Companies Price Performance

LOW stock traded up $5.34 during trading on Tuesday, reaching $245.19. The company had a trading volume of 1,329,478 shares, compared to its average volume of 2,648,000. Lowe's Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The company has a market cap of $137.41 billion, a P/E ratio of 20.30, a PEG ratio of 2.28 and a beta of 0.89. The business has a 50 day moving average of $224.68 and a 200 day moving average of $230.41.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly 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. 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 during the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the prior year, the firm earned $3.06 earnings per share. Lowe's Companies's revenue was down 2.0% on a year-over-year basis. Research analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were paid a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. Lowe's Companies's payout ratio is currently 39.77%.

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.