Cannon Advisors Inc. Raises Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Cannon Advisors Inc. raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 6.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,626 shares of the home improvement retailer’s stock after purchasing an additional 548 shares during the quarter. Lowe’s Companies accounts for 1.9% of Cannon Advisors Inc.’s holdings, making the stock its 21st largest holding. Cannon Advisors Inc.’s holdings in Lowe’s Companies were worth $2,012,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after purchasing an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Lowe’s Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock worth $266,000 after buying an additional 259 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Lowe’s Companies during the fourth quarter worth about $376,000. Steward Partners Investment Advisory LLC increased its stake in shares of Lowe’s Companies by 1.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 74,235 shares of the home improvement retailer’s stock worth $18,321,000 after buying an additional 920 shares during the period. Finally, Synergy Investment Management LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at approximately $108,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 0.7%

Shares of NYSE LOW opened at $226.96 on Thursday. The company has a fifty day moving average price of $223.73 and a 200 day moving average price of $235.45. The firm has a market cap of $127.20 billion, a PE ratio of 18.80, a PEG ratio of 2.16 and a beta of 0.90. Lowe’s Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data 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 net margin of 8.22% and a negative return on equity of 49.12%. The company had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period last year, the company earned $3.06 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.11%. Lowe’s Companies’s payout ratio is presently 38.11%.

Insider Activity at Lowe’s Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the sale, the executive vice president directly owned 31,898 shares in the company, valued at $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Mizuho reiterated an “outperform” rating and set a $280.00 target price on shares of Lowe’s Companies in a research note on Friday, June 13th. Royal Bank Of Canada dropped their price objective on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating on the stock in a report on Thursday, May 22nd. JPMorgan Chase & Co. cut their target price on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Truist Financial set a $264.00 price target on Lowe’s Companies and gave the company a “buy” rating in a report on Thursday, May 22nd. Finally, Wells Fargo & Company cut their price objective on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $271.12.

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.