Lowe's Companies, Inc. (NYSE:LOW) Shares Acquired by Waycross Partners LLC

Key Points

• Waycross Partners LLC increased its stake in Lowe's Companies by 51.8% during the first quarter, bringing its total holdings to 103,255 shares worth approximately $24 million.
• KeyCorp upgraded Lowe's from a "sector weight" to an "overweight" rating, with a price target of $266. Multiple analysts have given mixed ratings, with an overall average rating of "Moderate Buy" and a target of about $270.68.
• Lowe's declared a quarterly dividend increase to $1.20 per share, raising its annualized dividend to $4.80, reflecting a dividend yield of 2.0% based on current stock prices.

Waycross Partners LLC boosted its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 51.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,255 shares of the home improvement retailer's stock after acquiring an additional 35,233 shares during the quarter. Lowe's Companies accounts for approximately 2.7% of Waycross Partners LLC's investment portfolio, making the stock its 17th biggest position. Waycross Partners LLC's holdings in Lowe's Companies were worth $24,082,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its stake in Lowe's Companies by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock worth $29,223,000 after purchasing an additional 1,470 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in Lowe's Companies by 14.0% during the fourth quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock worth $26,236,000 after purchasing an additional 13,092 shares during the last quarter. Larson Financial Group LLC lifted its stake in Lowe's Companies by 8.1% during the first quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer's stock worth $3,860,000 after purchasing an additional 1,242 shares during the last quarter. Northern Trust Corp lifted its stake in Lowe's Companies by 16.3% during the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after purchasing an additional 993,833 shares during the last quarter. Finally, Cornerstone Wealth Group LLC lifted its stake in Lowe's Companies by 12.6% during the first quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer's stock worth $6,848,000 after purchasing an additional 3,295 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was 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 filing with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

Lowe's Companies Trading Down 0.6%

NYSE:LOW traded down $1.40 on Monday, hitting $239.75. 811,416 shares of the stock were exchanged, compared to its average volume of 2,644,048. The stock has a market cap of $134.37 billion, a PE ratio of 19.87, a PEG ratio of 2.28 and a beta of 0.89. The stock has a fifty day moving average of $224.39 and a 200-day moving average of $230.57. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The business had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. During the same quarter last year, the firm earned $3.06 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

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

Analyst Ratings Changes

LOW has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on 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. Telsey Advisory Group restated an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a research note on Wednesday, May 21st. Mizuho reiterated an "outperform" rating and issued a $280.00 price objective on shares of Lowe's Companies in a research note on Friday, June 13th. Morgan Stanley reduced their price objective on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Sanford C. Bernstein set a $266.00 price objective on Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. One 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.com, Lowe's Companies currently has an average rating of "Moderate Buy" and an average target price of $270.68.

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.