Lowe’s Companies, Inc. (NYSE:LOW) Position Boosted by Summitry LLC

Summitry LLC increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 294,412 shares of the home improvement retailer’s stock after acquiring an additional 5,813 shares during the quarter. Lowe’s Companies comprises approximately 3.6% of Summitry LLC’s portfolio, making the stock its 10th biggest position. Summitry LLC’s holdings in Lowe’s Companies were worth $72,661,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of Lowe’s Companies by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after purchasing an additional 24,812 shares during the period. Miracle Mile Advisors LLC lifted its position in Lowe’s Companies by 288.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after buying an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Lowe’s Companies by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after buying an additional 4,435 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Lowe’s Companies by 2.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock valued at $4,894,000 after buying an additional 501 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its position in shares of Lowe’s Companies by 1.5% in the 4th quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer’s stock worth $116,696,000 after buying an additional 7,187 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $230.61 on Wednesday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The company has a market capitalization of $130.21 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.96 and a beta of 1.12. The company has a fifty day moving average of $247.26 and a 200 day moving average of $257.71.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The firm had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 37.67%.

Analyst Upgrades and Downgrades

Several research firms recently commented on LOW. Piper Sandler dropped their price objective on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday. Stifel Nicolaus boosted their price target on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Bank of America reduced their price objective on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Sanford C. Bernstein boosted their target price on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Finally, Mizuho reduced their price target on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.71.

Lowe’s Companies Company 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.