State of Alaska Department of Revenue Cuts Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

State of Alaska Department of Revenue trimmed its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 16.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,241 shares of the home improvement retailer's stock after selling 17,825 shares during the quarter. State of Alaska Department of Revenue's holdings in Lowe's Companies were worth $19,636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Axiom Financial Strategies LLC grew its stake in Lowe's Companies by 9.8% in the first quarter. Axiom Financial Strategies LLC now owns 1,381 shares of the home improvement retailer's stock worth $275,000 after purchasing an additional 123 shares in the last quarter. United Bank grew its stake in Lowe's Companies by 6.8% in the first quarter. United Bank now owns 9,734 shares of the home improvement retailer's stock worth $1,968,000 after purchasing an additional 617 shares in the last quarter. Prudential PLC bought a new position in Lowe's Companies in the first quarter worth approximately $1,629,000. Baird Financial Group Inc. grew its stake in Lowe's Companies by 0.4% in the first quarter. Baird Financial Group Inc. now owns 256,098 shares of the home improvement retailer's stock worth $51,780,000 after purchasing an additional 920 shares in the last quarter. Finally, Covestor Ltd grew its stake in Lowe's Companies by 74.6% in the first quarter. Covestor Ltd now owns 295 shares of the home improvement retailer's stock worth $60,000 after purchasing an additional 126 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Oppenheimer reaffirmed a "market perform" rating and set a $230.00 target price on shares of Lowe's Companies in a research report on Monday, March 4th. Robert W. Baird raised Lowe's Companies from an "average" rating to an "outperform" rating and set a $250.00 target price on the stock in a research report on Wednesday, February 14th. UBS Group increased their target price on Lowe's Companies from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. Barclays increased their target price on Lowe's Companies from $203.00 to $229.00 and gave the company an "equal weight" rating in a research report on Thursday, January 4th. Finally, Morgan Stanley increased their target price on Lowe's Companies from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Wednesday, February 28th. Thirteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $251.60.

Lowe's Companies Stock Performance

LOW stock traded up $1.40 during midday trading on Friday, reaching $254.73. The stock had a trading volume of 2,631,256 shares, compared to its average volume of 2,550,362. The stock has a market cap of $145.75 billion, a PE ratio of 19.36, a P/E/G ratio of 1.87 and a beta of 1.13. The firm has a fifty day simple moving average of $232.91 and a two-hundred day simple moving average of $216.26. Lowe's Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.09. The company had revenue of $18.60 billion during the quarter, compared to analyst estimates of $18.47 billion. Lowe's Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The firm's quarterly revenue was down 17.1% on a year-over-year basis. During the same quarter last year, the business posted $2.28 EPS. On average, sell-side analysts predict that Lowe's Companies, Inc. will post 12.21 EPS for the current fiscal year.

Lowe's Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.73%. Lowe's Companies's payout ratio is currently 33.43%.

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.