KCM Investment Advisors LLC Lowers Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

KCM Investment Advisors LLC reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,974 shares of the home improvement retailer’s stock after selling 83 shares during the period. KCM Investment Advisors LLC’s holdings in Lowe’s Companies were worth $11,098,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LOW. Stephens Consulting LLC raised its stake in Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the period. JNBA Financial Advisors increased its position in shares of Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. MFA Wealth Advisors LLC increased its position in shares of Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares during the last quarter. Kimelman & Baird LLC purchased a new position in Lowe’s Companies during the 2nd quarter valued at $37,000. Finally, Tsfg LLC boosted its holdings in Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after acquiring an additional 100 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of NYSE:LOW traded down $1.29 during midday trading on Friday, hitting $269.06. The company had a trading volume of 538,837 shares, compared to its average volume of 2,432,003. Lowe’s Companies, Inc. has a twelve month low of $196.23 and a twelve month high of $287.01. The stock has a market cap of $152.64 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The business’s 50-day simple moving average is $266.68 and its 200-day simple moving average is $243.25.

Lowe’s Companies (NYSE:LOW) last posted 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. 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 analysts’ expectations of $23.93 billion. During the same quarter last year, the firm earned $4.56 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. 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 yield of 1.71%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.14%.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, 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 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on LOW. Gordon Haskett reduced 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. Truist Financial upped their target price on Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Piper Sandler upped their target price on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Morgan Stanley increased their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price target for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus target price of $273.84.

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.