Callan Capital LLC Cuts Position in Lowe’s Companies, Inc. (NYSE:LOW)

Callan Capital LLC reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,649 shares of the home improvement retailer’s stock after selling 79 shares during the quarter. Callan Capital LLC’s holdings in Lowe’s Companies were worth $584,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LOW. Tidemark LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter worth approximately $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies during the 4th quarter valued at $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies in the 4th quarter worth $31,000. Stephens Consulting LLC increased its position in Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares in the last quarter. Finally, Keener Financial Planning LLC acquired a new stake in Lowe’s Companies in the first quarter worth about $35,000. Institutional investors own 74.06% of the company’s stock.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada dropped their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. Evercore ISI lifted their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Bank of America cut their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies has an average rating of “Hold” and a consensus price target of $253.33.

Lowe’s Companies Trading Down 0.3 %

Shares of NYSE LOW opened at $260.17 on Friday. The stock has a market cap of $148.25 billion, a PE ratio of 20.90, a P/E/G ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The company has a 50-day moving average of $243.58 and a 200 day moving average of $235.40.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the company posted $4.56 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.77%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 36.95%.

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.