Lowe’s Companies, Inc. (NYSE:LOW) Position Cut by First City Capital Management Inc.

First City Capital Management Inc. lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,048 shares of the home improvement retailer’s stock after selling 160 shares during the period. First City Capital Management Inc.’s holdings in Lowe’s Companies were worth $1,333,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Tidemark LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. acquired a new position in Lowe’s Companies during the 4th quarter worth $28,000. Transcendent Capital Group LLC bought a new position in shares of Lowe’s Companies in the fourth quarter worth $31,000. Stephens Consulting LLC increased its holdings in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the period. Finally, Keener Financial Planning LLC bought a new stake in shares of Lowe’s Companies during the first quarter valued at about $35,000. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley raised their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. TD Cowen upped their target price on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research report on Thursday. Gordon Haskett lowered their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Wells Fargo & Company decreased their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada cut their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $253.33.

Lowe’s Companies Trading Down 0.3 %

LOW stock opened at $260.14 on Friday. The firm has a market cap of $148.24 billion, a PE ratio of 20.89, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The company has a fifty day simple moving average of $243.58 and a 200 day simple moving average of $235.36.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating 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 business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the firm posted $4.56 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of 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 document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

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.