Aviance Capital Partners LLC Has $10.24 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Aviance Capital Partners LLC lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 684.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,206 shares of the home improvement retailer’s stock after acquiring an additional 35,080 shares during the quarter. Lowe’s Companies makes up approximately 1.5% of Aviance Capital Partners LLC’s holdings, making the stock its 11th largest holding. Aviance Capital Partners LLC’s holdings in Lowe’s Companies were worth $10,242,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Wetzel Investment Advisors Inc. bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $25,000. Orion Capital Management LLC bought a new position in Lowe’s Companies in the 3rd quarter valued at $26,000. Tidemark LLC bought a new position in Lowe’s Companies in the 4th quarter valued at $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at $28,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter worth $31,000. 74.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LOW shares. Stifel Nicolaus boosted their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Citigroup dropped their price target on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Gordon Haskett reaffirmed a “hold” rating and issued a $245.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Telsey Advisory Group restated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday, May 21st. Finally, Truist Financial decreased their price target on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $251.33.

Lowe’s Companies Price Performance

NYSE LOW traded down $1.83 during trading on Monday, reaching $218.63. 233,313 shares of the company’s stock were exchanged, compared to its average volume of 2,536,118. The business has a 50 day moving average price of $225.32 and a 200-day moving average price of $228.49. The stock has a market capitalization of $124.58 billion, a P/E ratio of 17.74, a PEG ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the previous year, the company posted $3.67 EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, analysts forecast that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s payout ratio is presently 35.34%.

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.