1060 Capital LLC purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 300,000 shares of the home improvement retailer’s stock, valued at approximately $24,663,000. Lowe’s Companies comprises approximately 7.9% of 1060 Capital LLC’s investment portfolio, making the stock its 5th largest position.
Several other hedge funds have also made changes to their positions in the stock. LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at about $571,000. Archford Capital Strategies LLC increased its position in shares of Lowe’s Companies by 219.6% in the fourth quarter. Archford Capital Strategies LLC now owns 3,432 shares of the home improvement retailer’s stock valued at $243,000 after buying an additional 2,358 shares during the last quarter. Independent Advisor Alliance purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at about $1,415,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at about $2,500,000. Finally, Capital Guardian Trust Co. increased its position in shares of Lowe’s Companies by 228.1% in the fourth quarter. Capital Guardian Trust Co. now owns 2,877 shares of the home improvement retailer’s stock valued at $205,000 after buying an additional 2,000 shares during the last quarter. 74.54% of the stock is currently owned by institutional investors.
Shares of Lowe’s Companies, Inc. (NYSE:LOW) opened at 76.83 on Thursday. Lowe’s Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $86.25. The firm has a market capitalization of $64.86 billion, a price-to-earnings ratio of 24.09 and a beta of 1.08. The company’s 50-day moving average is $78.03 and its 200-day moving average is $78.95.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The firm had revenue of $16.86 billion during the quarter, compared to the consensus estimate of $16.99 billion. During the same period in the prior year, the business earned $0.87 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that Lowe’s Companies, Inc. will post $4.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 9th. Investors of record on Wednesday, July 26th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, July 24th. This represents a $1.64 dividend on an annualized basis and a yield of 2.13%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.35. Lowe’s Companies’s payout ratio is 44.03%.
Several equities analysts recently issued reports on the stock. Vetr downgraded shares of Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 price objective on the stock. in a research note on Monday, May 8th. BMO Capital Markets reissued a “buy” rating and set a $89.00 price objective on shares of Lowe’s Companies in a research note on Friday, May 5th. Credit Suisse Group set a $94.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Zacks Investment Research downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Finally, Jefferies Group LLC upped their price objective on shares of Lowe’s Companies from $80.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, May 12th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $85.39.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the transaction, the insider now owns 37,716 shares of the company’s stock, valued at $3,024,823.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.
Lowe’s Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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