Harvest Fund Management Co. Ltd Sells 457 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Harvest Fund Management Co. Ltd lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 12.6% in the 2nd quarter, Holdings Channel reports. The firm owned 3,160 shares of the home improvement retailer’s stock after selling 457 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Lowe’s Companies were worth $713,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of Lowe’s Companies by 357.1% in the 1st quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the home improvement retailer’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Tanglewood Legacy Advisors LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $30,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $31,000. Ruedi Wealth Management Inc. purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $32,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 71.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LOW. DA Davidson raised their price target on Lowe’s Companies from $228.00 to $237.00 in a report on Wednesday, May 24th. Robert W. Baird raised their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, August 22nd. Evercore ISI decreased their price objective on Lowe’s Companies from $240.00 to $235.00 and set an “in-line” rating on the stock in a report on Friday, September 8th. Wedbush reissued a “neutral” rating and set a $230.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 23rd. Finally, TD Cowen raised their price objective on Lowe’s Companies from $225.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $237.48.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $230.83 on Friday. The firm has a market cap of $133.21 billion, a P/E ratio of 22.72, a P/E/G ratio of 1.49 and a beta of 1.09. Lowe’s Companies, Inc. has a fifty-two week low of $176.50 and a fifty-two week high of $237.21. The business’s 50 day moving average price is $227.78 and its 200-day moving average price is $213.26.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.07. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The firm had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.97 billion. During the same period last year, the company earned $4.67 EPS. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 13.46 EPS for the current year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, October 24th. This represents a $4.40 annualized dividend and a dividend yield of 1.91%. Lowe’s Companies’s dividend payout ratio is presently 43.31%.

Insider Activity at Lowe’s Companies

In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of Lowe’s Companies stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the sale, the executive vice president now directly owns 46,594 shares in the company, valued at $10,368,562.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lowe’s Companies news, EVP Janice Dupre sold 5,380 shares of Lowe’s Companies stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the completion of the transaction, the executive vice president now owns 24,216 shares in the company, valued at $5,600,676.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Michael Mcfarland sold 4,500 shares of Lowe’s Companies stock in a transaction on Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the transaction, the executive vice president now owns 46,594 shares of the company’s stock, valued at approximately $10,368,562.82. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

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.