Wilbanks Smith & Thomas Asset Management LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,794 shares of the home improvement retailer’s stock after buying an additional 153 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Lowe’s Companies were worth $970,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. DnB Asset Management AS boosted its stake in shares of Lowe’s Companies by 8.9% in the first quarter. DnB Asset Management AS now owns 94,990 shares of the home improvement retailer’s stock worth $7,809,000 after buying an additional 7,800 shares during the last quarter. SFE Investment Counsel boosted its stake in shares of Lowe’s Companies by 1.6% in the first quarter. SFE Investment Counsel now owns 80,633 shares of the home improvement retailer’s stock worth $6,629,000 after buying an additional 1,250 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Lowe’s Companies by 6.6% in the first quarter. Capital Investment Advisors LLC now owns 6,714 shares of the home improvement retailer’s stock worth $552,000 after buying an additional 414 shares during the last quarter. Somerset Trust Co boosted its stake in shares of Lowe’s Companies by 2.0% in the first quarter. Somerset Trust Co now owns 27,630 shares of the home improvement retailer’s stock worth $2,272,000 after buying an additional 529 shares during the last quarter. Finally, Cohen Capital Management Inc. purchased a new stake in shares of Lowe’s Companies during the first quarter worth $164,000. 74.65% of the stock is owned by institutional investors.
Lowe’s Companies, Inc. (LOW) traded up 1.67% on Tuesday, reaching $75.08. 1,944,717 shares of the company’s stock were exchanged. Lowe’s Companies, Inc. has a 52 week low of $64.87 and a 52 week high of $86.25. The company has a market cap of $63.38 billion, a price-to-earnings ratio of 23.54 and a beta of 1.08. The stock’s 50 day moving average is $76.37 and its 200 day moving average is $79.58. Lowe’s Companies also saw some unusual options trading on Monday. Investors acquired 6,466 put options on the company. This is an increase of 538% compared to the typical daily volume of 1,014 put options.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. The firm had revenue of $16.86 billion for the quarter, compared to analysts’ expectations of $16.99 billion. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 earnings per share. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post $4.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.22%. Lowe’s Companies’s dividend payout ratio is 51.57%.
LOW has been the subject of several research analyst reports. Goldman Sachs Group, Inc. (The) cut their target price on shares of Lowe’s Companies from $97.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Stifel Nicolaus cut their target price on shares of Lowe’s Companies from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. set a $100.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, May 24th. BTIG Research reiterated a “buy” rating and set a $95.00 target price (up from $90.00) on shares of Lowe’s Companies in a research note on Friday, May 19th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $89.00 target price on shares of Lowe’s Companies in a research note on Monday, May 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $85.69.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $80.20, for a total transaction of $936,094.40. Following the transaction, the insider now directly owns 37,716 shares in the company, valued at approximately $3,024,823.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.
About Lowe’s Companies
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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