Montecito Bank & Trust Cuts Position in Lowe’s Companies, Inc. (NYSE:LOW)

Montecito Bank & Trust decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,342 shares of the home improvement retailer’s stock after selling 167 shares during the quarter. Montecito Bank & Trust’s holdings in Lowe’s Companies were worth $1,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LOW. Cerro Pacific Wealth Advisors LLC raised its holdings in shares of Lowe’s Companies by 0.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 12,108 shares of the home improvement retailer’s stock valued at $3,279,000 after acquiring an additional 51 shares during the last quarter. Key Client Fiduciary Advisors LLC raised its stake in Lowe’s Companies by 15.4% in the 4th quarter. Key Client Fiduciary Advisors LLC now owns 2,856 shares of the home improvement retailer’s stock valued at $705,000 after purchasing an additional 381 shares during the last quarter. Veracity Capital LLC lifted its holdings in Lowe’s Companies by 8.6% in the 4th quarter. Veracity Capital LLC now owns 2,504 shares of the home improvement retailer’s stock valued at $618,000 after purchasing an additional 198 shares in the last quarter. Secure Asset Management LLC boosted its stake in Lowe’s Companies by 79.1% during the 4th quarter. Secure Asset Management LLC now owns 1,599 shares of the home improvement retailer’s stock worth $395,000 after purchasing an additional 706 shares during the last quarter. Finally, Red Door Wealth Management LLC grew its holdings in shares of Lowe’s Companies by 1.1% during the fourth quarter. Red Door Wealth Management LLC now owns 4,799 shares of the home improvement retailer’s stock worth $1,184,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Stifel Nicolaus boosted their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Bank of America increased their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Trading Up 1.2 %

Shares of LOW stock opened at $261.16 on Friday. The firm’s fifty day moving average price is $259.44 and its two-hundred day moving average price is $255.60. The firm has a market capitalization of $147.47 billion, a P/E ratio of 21.78, a PEG ratio of 2.16 and a beta of 1.11. Lowe’s Companies, Inc. has a 1 year low of $209.55 and a 1 year high of $287.01.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.76%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Insiders Place Their Bets

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

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.