Strategic Global Advisors LLC Decreases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Strategic Global Advisors LLC lowered its stake in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 40.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,647 shares of the home improvement retailer’s stock after selling 4,484 shares during the period. Strategic Global Advisors LLC’s holdings in Lowe’s Companies were worth $1,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LOW. Morgan Stanley raised its holdings in shares of Lowe’s Companies by 1.1% during the third quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock worth $2,271,836,000 after purchasing an additional 116,855 shares during the last quarter. Norges Bank purchased a new position in shares of Lowe’s Companies during the fourth quarter worth $1,638,746,000. Northern Trust Corp raised its holdings in shares of Lowe’s Companies by 1.1% during the third quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock worth $1,483,733,000 after purchasing an additional 78,901 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Lowe’s Companies by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock worth $714,637,000 after purchasing an additional 41,451 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Lowe’s Companies by 1.9% during the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after purchasing an additional 52,859 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Mizuho assumed coverage on shares of Lowe’s Companies in a report on Tuesday, March 19th. They set a “buy” rating and a $280.00 target price for the company. Evercore ISI reduced their target price on shares of Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating for the company in a report on Wednesday, May 22nd. Gordon Haskett reissued a “hold” rating and set a $245.00 target price on shares of Lowe’s Companies in a report on Wednesday, April 3rd. The Goldman Sachs Group lifted their price objective on shares of Lowe’s Companies from $238.00 to $262.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $251.33.

View Our Latest Report on LOW

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $218.16 on Tuesday. The company’s 50 day simple moving average is $228.59 and its 200-day simple moving average is $226.61. The company has a market capitalization of $124.32 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.66 and a beta of 1.08. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49.

Lowe’s Companies (NYSE:LOWGet Free Report) last released its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The business had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.67 EPS. Equities analysts expect that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is 35.34%.

About Lowe’s Companies

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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