Hoey Investments Inc. Sells 826 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Hoey Investments Inc. reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,937 shares of the home improvement retailer’s stock after selling 826 shares during the quarter. Lowe’s Companies makes up approximately 0.5% of Hoey Investments Inc.’s investment portfolio, making the stock its 18th largest position. Hoey Investments Inc.’s holdings in Lowe’s Companies were worth $2,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in LOW. State Street Corp grew its stake in Lowe’s Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after acquiring an additional 460,851 shares in the last quarter. Geode Capital Management LLC grew its stake in Lowe’s Companies by 1.6% in the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after purchasing an additional 187,473 shares in the last quarter. Norges Bank purchased a new position in Lowe’s Companies during the 4th quarter worth $1,842,954,000. Bank of New York Mellon Corp raised its position in Lowe’s Companies by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock valued at $1,033,283,000 after purchasing an additional 385,994 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Lowe’s Companies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock worth $853,697,000 after buying an additional 90,012 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Price Performance

NYSE LOW opened at $228.20 on Monday. The stock’s fifty day moving average price is $245.57 and its 200 day moving average price is $257.38. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The company has a market cap of $127.73 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.96 and a beta of 1.12.

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

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 37.67%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Evercore ISI lifted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Mizuho lowered their price target on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus lifted their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Guggenheim restated a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Royal Bank of Canada cut their price target on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average 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.