Magnolia Capital Advisors LLC Buys Shares of 1,785 Lowe’s Companies, Inc. (NYSE:LOW)

Magnolia Capital Advisors LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,785 shares of the home improvement retailer’s stock, valued at approximately $394,000.

A number of other institutional investors have also recently added to or reduced their stakes in LOW. 9258 Wealth Management LLC lifted its stake in Lowe’s Companies by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock valued at $531,000 after acquiring an additional 474 shares during the last quarter. Focus Financial Network Inc. ADV bought a new position in shares of Lowe’s Companies in the fourth quarter valued at approximately $358,000. CWA Asset Management Group LLC raised its position in shares of Lowe’s Companies by 50.4% in the fourth quarter. CWA Asset Management Group LLC now owns 5,363 shares of the home improvement retailer’s stock valued at $1,194,000 after purchasing an additional 1,796 shares during the period. NEOS Investment Management LLC raised its position in shares of Lowe’s Companies by 36.9% in the fourth quarter. NEOS Investment Management LLC now owns 8,183 shares of the home improvement retailer’s stock valued at $1,821,000 after purchasing an additional 2,206 shares during the period. Finally, Rafferty Asset Management LLC raised its position in shares of Lowe’s Companies by 18.5% in the fourth quarter. Rafferty Asset Management LLC now owns 90,727 shares of the home improvement retailer’s stock valued at $20,191,000 after purchasing an additional 14,195 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LOW shares. UBS Group lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley lifted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Piper Sandler lifted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial lifted their price target on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $260.00.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $270.85 on Tuesday. The firm has a market capitalization of $154.34 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The company’s fifty day moving average price is $246.83 and its two-hundred day moving average price is $236.29. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $271.27.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm 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 firm posted $4.56 EPS. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share 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. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 36.95%.

Insider Activity

In other 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 value of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

About Lowe’s Companies

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.