Summit Investment Advisors Inc. Decreases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Summit Investment Advisors Inc. trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,276 shares of the home improvement retailer’s stock after selling 473 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Lowe’s Companies were worth $3,277,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LOW. FMR LLC increased its position in Lowe’s Companies by 1.0% during the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer’s stock worth $6,483,558,000 after buying an additional 259,766 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lowe’s Companies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer’s stock worth $2,952,341,000 after purchasing an additional 245,876 shares during the last quarter. Norges Bank acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth about $1,842,954,000. Bank of New York Mellon Corp grew its holdings in shares of Lowe’s Companies by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock worth $1,033,283,000 after buying an additional 385,994 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Lowe’s Companies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock valued at $853,697,000 after buying an additional 90,012 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.5 %

NYSE:LOW opened at $220.11 on Monday. The company has a market cap of $123.20 billion, a PE ratio of 18.36, a P/E/G ratio of 1.96 and a beta of 1.07. The business’s 50 day moving average is $236.25 and its two-hundred day moving average is $254.29. Lowe’s Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01.

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 (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio is presently 37.67%.

Wall Street Analyst Weigh In

LOW has been the subject of several recent analyst reports. StockNews.com cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Royal Bank of Canada dropped their target price on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research note on Wednesday, February 26th. BNP Paribas upgraded Lowe’s Companies to a “strong sell” rating in a report on Thursday, February 27th. Finally, Truist Financial decreased their target price on shares of Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $278.74.

About Lowe’s Companies

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.