Calamos Advisors LLC Sells 70,289 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Calamos Advisors LLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 18.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,892 shares of the home improvement retailer’s stock after selling 70,289 shares during the quarter. Calamos Advisors LLC’s holdings in Lowe’s Companies were worth $74,754,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LOW. Patron Partners LLC raised its position in Lowe’s Companies by 2.7% in the 4th quarter. Patron Partners LLC now owns 2,749 shares of the home improvement retailer’s stock valued at $678,000 after buying an additional 72 shares during the last quarter. Trust Point Inc. boosted its holdings in Lowe’s Companies by 1.8% in the 4th quarter. Trust Point Inc. now owns 4,188 shares of the home improvement retailer’s stock valued at $1,034,000 after purchasing an additional 75 shares during the period. Baltimore Washington Financial Advisors Inc. bought a new position in shares of Lowe’s Companies in the fourth quarter worth approximately $202,000. Optas LLC boosted its holdings in shares of Lowe’s Companies by 143.8% in the 4th quarter. Optas LLC now owns 3,311 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 1,953 shares in the last quarter. Finally, Hodges Capital Management Inc. raised its position in Lowe’s Companies by 12.0% in the 4th quarter. Hodges Capital Management Inc. now owns 5,378 shares of the home improvement retailer’s stock worth $1,327,000 after purchasing an additional 577 shares during the period. Institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This trade 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. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Stifel Nicolaus upped 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. Sanford C. Bernstein increased their price target on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, Truist Financial decreased their target price on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Price Performance

LOW opened at $256.73 on Tuesday. The firm has a market cap of $144.96 billion, a PE ratio of 21.41, a P/E/G ratio of 2.18 and a beta of 1.11. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The stock has a 50-day moving average price of $259.00 and a 200-day moving average price of $257.46.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.79%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

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.