Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Chicago Capital LLC

Chicago Capital LLC cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,192 shares of the home improvement retailer’s stock after selling 1,065 shares during the period. Chicago Capital LLC’s holdings in Lowe’s Companies were worth $33,773,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LOW. Tidemark LLC purchased a new position in Lowe’s Companies during the fourth quarter worth about $27,000. Voisard Asset Management Group Inc. acquired a new stake in Lowe’s Companies in the 4th quarter valued at approximately $28,000. Keener Financial Planning LLC purchased a new stake in Lowe’s Companies in the first quarter valued at approximately $35,000. Transcendent Capital Group LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $31,000. Finally, Stephens Consulting LLC boosted its position 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 worth $32,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LOW. Stifel Nicolaus lifted their target price on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Piper Sandler decreased their price target on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Royal Bank of Canada cut their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. UBS Group lifted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Truist Financial upped their price target on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Hold” and a consensus price target of $252.83.

Lowe’s Companies Price Performance

Shares of LOW traded down $0.30 during trading hours on Friday, reaching $243.81. 1,889,727 shares of the company’s stock traded hands, compared to its average volume of 2,513,320. The firm has a market capitalization of $138.93 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 2.04 and a beta of 1.07. The business’s fifty day simple moving average is $236.53 and its two-hundred day simple moving average is $234.09. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping 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 firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the prior year, the firm posted $4.56 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.94 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 36.95%.

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.