Allen Mooney & Barnes Investment Advisors LLC Lowers Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Allen Mooney & Barnes Investment Advisors LLC decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,050 shares of the home improvement retailer’s stock after selling 1,076 shares during the period. Lowe’s Companies comprises 2.6% of Allen Mooney & Barnes Investment Advisors LLC’s portfolio, making the stock its 9th biggest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Lowe’s Companies were worth $15,314,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC raised its holdings in shares of Lowe’s Companies by 308.0% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock worth $6,988,000 after buying an additional 21,375 shares in the last quarter. Pines Wealth Management LLC bought a new position in shares of Lowe’s Companies during the fourth quarter valued at $1,657,000. Wynn Capital LLC boosted its stake in shares of Lowe’s Companies by 1.4% in the 4th quarter. Wynn Capital LLC now owns 3,604 shares of the home improvement retailer’s stock valued at $890,000 after purchasing an additional 50 shares in the last quarter. Graves Light Lenhart Wealth Inc. grew its holdings in shares of Lowe’s Companies by 155.2% in the 4th quarter. Graves Light Lenhart Wealth Inc. now owns 3,603 shares of the home improvement retailer’s stock worth $889,000 after purchasing an additional 2,191 shares during the last quarter. Finally, Johnson & White Wealth Management LLC acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth about $214,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the completion of the sale, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Stifel Nicolaus boosted their target price on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company raised their price target on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Truist Financial reduced their price objective on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their target price for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Eleven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Trading Up 1.1 %

Lowe’s Companies stock opened at $251.30 on Wednesday. The firm has a market capitalization of $141.90 billion, a P/E ratio of 20.96, a PEG ratio of 2.20 and a beta of 1.11. The business has a 50-day moving average of $260.54 and a 200-day moving average of $253.93. Lowe’s Companies, Inc. has a 1 year low of $209.55 and a 1 year high of $287.01.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.83%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is presently 38.37%.

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.