Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,785 shares of the home improvement retailer’s stock after selling 50 shares during the period. Sheets Smith Wealth Management’s holdings in Lowe’s Companies were worth $2,380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stephens Consulting LLC boosted its stake in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares in the last quarter. JNBA Financial Advisors boosted its position in Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. MFA Wealth Advisors LLC boosted its position in Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares in the last quarter. Kimelman & Baird LLC purchased a new position in shares of Lowe’s Companies in the second quarter valued at $37,000. Finally, Tsfg LLC increased its position in shares of Lowe’s Companies by 128.2% in the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 100 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LOW shares. JPMorgan Chase & Co. lowered their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Sanford C. Bernstein began coverage on shares of Lowe’s Companies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 price target on the stock. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Melius Research started coverage on Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 target price on the stock. Finally, Gordon Haskett dropped their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $273.44.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies Trading Up 1.8 %

Shares of Lowe’s Companies stock opened at $271.10 on Friday. Lowe’s Companies, Inc. has a twelve month low of $189.05 and a twelve month high of $287.01. The stock has a market cap of $153.79 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The company has a fifty day moving average price of $264.61 and a 200 day moving average price of $242.11.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same period last year, the business earned $4.56 EPS. The business’s revenue was down 5.5% on a year-over-year basis. Analysts forecast that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were paid a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. Lowe’s Companies’s payout ratio is 38.14%.

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.