KFG Wealth Management LLC Purchases Shares of 1,037 Lowe’s Companies, Inc. (NYSE:LOW)

KFG Wealth Management LLC purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,037 shares of the home improvement retailer’s stock, valued at approximately $264,000.

A number of other hedge funds have also added to or reduced their stakes in LOW. Kingfisher Capital LLC boosted its stake in Lowe’s Companies by 0.6% during the 3rd quarter. Kingfisher Capital LLC now owns 17,683 shares of the home improvement retailer’s stock valued at $3,675,000 after purchasing an additional 114 shares during the last quarter. KPP Advisory Services LLC acquired a new position in Lowe’s Companies during the 3rd quarter valued at about $453,000. JT Stratford LLC boosted its stake in Lowe’s Companies by 22.8% during the 3rd quarter. JT Stratford LLC now owns 3,374 shares of the home improvement retailer’s stock valued at $701,000 after purchasing an additional 627 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Lowe’s Companies by 189.5% in the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock valued at $581,592,000 after acquiring an additional 1,831,727 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. grew its holdings in shares of Lowe’s Companies by 0.5% in the third quarter. Riggs Asset Managment Co. Inc. now owns 16,732 shares of the home improvement retailer’s stock valued at $3,478,000 after acquiring an additional 87 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

LOW has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $246.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Zelman & Associates reaffirmed a “neutral” rating and issued a $265.00 target price on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Mizuho initiated coverage on Lowe’s Companies in a report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 target price for the company. Gordon Haskett reaffirmed a “hold” rating and issued a $245.00 target price on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Finally, Evercore ISI reduced their target price on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a report on Tuesday. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $250.41.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $213.17 on Thursday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The company has a market capitalization of $121.47 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.64 and a beta of 1.08. The business’s fifty day moving average is $224.57 and its 200 day moving average is $228.32.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.67 earnings per share. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal 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 paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 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.