Lowe’s Companies, Inc. (NYSE:LOW) Stake Lifted by Cannell & Co.

Cannell & Co. raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 371,534 shares of the home improvement retailer’s stock after purchasing an additional 26,220 shares during the quarter. Lowe’s Companies comprises about 2.6% of Cannell & Co.’s investment portfolio, making the stock its 6th biggest position. Cannell & Co.’s holdings in Lowe’s Companies were worth $82,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Private Management Group Inc. increased its stake in Lowe’s Companies by 4.0% in the fourth quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock valued at $268,000 after acquiring an additional 46 shares during the period. First Command Advisory Services Inc. grew its stake in Lowe’s Companies by 1.9% during the fourth quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock worth $576,000 after buying an additional 48 shares during the last quarter. Hamilton Capital LLC grew its stake in Lowe’s Companies by 2.1% during the third quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock worth $507,000 after buying an additional 49 shares during the last quarter. Abundance Wealth Counselors grew its stake in Lowe’s Companies by 0.8% during the fourth quarter. Abundance Wealth Counselors now owns 6,671 shares of the home improvement retailer’s stock worth $1,485,000 after buying an additional 50 shares during the last quarter. Finally, YHB Investment Advisors Inc. grew its stake in Lowe’s Companies by 0.6% during the fourth quarter. YHB Investment Advisors Inc. now owns 9,013 shares of the home improvement retailer’s stock worth $2,006,000 after buying an additional 50 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

LOW traded down $0.59 during mid-day trading on Wednesday, hitting $227.40. The stock had a trading volume of 515,096 shares, compared to its average volume of 2,470,544. The stock’s fifty day simple moving average is $240.11 and its 200-day simple moving average is $220.41. The firm has a market capitalization of $130.12 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 1.71 and a beta of 1.13. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.09. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period last year, the business posted $2.28 earnings per share. As a group, research analysts expect that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 1.93%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.43%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LOW shares. UBS Group upped their price objective on shares of Lowe’s Companies from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Stifel Nicolaus decreased their price objective on shares of Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Evercore ISI decreased their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Wedbush upped their price objective on shares of Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $252.52.

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.