Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,896 shares of the home improvement retailer’s stock after buying an additional 193 shares during the period. Miracle Mile Advisors LLC’s holdings in Lowe’s Companies were worth $1,326,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new position in Lowe’s Companies during the 4th quarter worth $31,000. Stephens Consulting LLC grew its stake in shares of Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. Keener Financial Planning LLC acquired a new position in shares of Lowe’s Companies during the first quarter valued at $35,000. Finally, Kimelman & Baird LLC bought a new stake in shares of Lowe’s Companies during the second quarter valued at about $37,000. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Performance

LOW stock opened at $268.54 on Tuesday. The company’s 50-day simple moving average is $249.61 and its 200 day simple moving average is $236.95. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $274.16. The company has a market capitalization of $153.02 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10.

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

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.71%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Insiders Place Their Bets

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LOW shares. Telsey Advisory Group upped their price target on shares of Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 2nd. Melius Research initiated coverage on Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. TD Cowen boosted their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday, September 19th. Royal Bank of Canada decreased their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. Finally, Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $263.54.

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.