Park Place Capital Corp Acquires 700 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Park Place Capital Corp lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 106.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,356 shares of the home improvement retailer’s stock after acquiring an additional 700 shares during the period. Park Place Capital Corp’s holdings in Lowe’s Companies were worth $345,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in LOW. Schonfeld Strategic Advisors LLC grew its position in Lowe’s Companies by 33.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 90,203 shares of the home improvement retailer’s stock valued at $18,748,000 after acquiring an additional 22,645 shares during the period. Shelton Capital Management increased its position in shares of Lowe’s Companies by 7.2% during the 3rd quarter. Shelton Capital Management now owns 31,425 shares of the home improvement retailer’s stock worth $6,531,000 after purchasing an additional 2,100 shares in the last quarter. Advanced Portfolio Management LLC bought a new position in Lowe’s Companies during the 3rd quarter valued at about $1,288,000. Axxcess Wealth Management LLC boosted its position in Lowe’s Companies by 64.9% in the third quarter. Axxcess Wealth Management LLC now owns 14,873 shares of the home improvement retailer’s stock valued at $3,091,000 after buying an additional 5,856 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in Lowe’s Companies by 6.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 683,598 shares of the home improvement retailer’s stock valued at $142,079,000 after buying an additional 43,400 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

LOW opened at $213.52 on Tuesday. The firm’s fifty day moving average is $225.32 and its two-hundred day moving average is $228.49. The firm has a market cap of $121.67 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data 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 business had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter last year, the business posted $3.67 EPS. The firm’s revenue was down 4.4% compared to the same quarter last year. Equities analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 35.34%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LOW shares. Mizuho initiated coverage on shares of Lowe’s Companies in a research note on Tuesday, March 19th. They issued a “buy” rating and a $280.00 target price for the company. Oppenheimer restated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Monday, March 4th. Citigroup lowered their target price on 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. DA Davidson decreased their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Finally, StockNews.com downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $251.33.

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.