Summitry LLC Has $72.66 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Summitry LLC increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 294,412 shares of the home improvement retailer’s stock after acquiring an additional 5,813 shares during the period. Lowe’s Companies comprises about 3.6% of Summitry LLC’s portfolio, making the stock its 10th biggest position. Summitry LLC owned about 0.05% of Lowe’s Companies worth $72,661,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LOW. IFS Advisors LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in Lowe’s Companies during the third quarter worth $27,000. Winch Advisory Services LLC lifted its holdings in Lowe’s Companies by 56.4% in the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after buying an additional 44 shares during the period. Marshall Investment Management LLC bought a new stake in Lowe’s Companies during the fourth quarter valued at $31,000. Finally, Millstone Evans Group LLC acquired a new stake in Lowe’s Companies during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Truist Financial dropped their price target on Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus boosted their target price on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Sanford C. Bernstein raised their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Mizuho dropped their price objective on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Royal Bank of Canada reduced their target price on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average price target of $279.71.

Lowe’s Companies Stock Down 1.0 %

Lowe’s Companies stock opened at $230.61 on Wednesday. The firm has a fifty day simple moving average of $247.26 and a two-hundred day simple moving average of $257.71. Lowe’s Companies, Inc. has a twelve month low of $211.80 and a twelve month high of $287.01. The company has a market capitalization of $130.21 billion, a PE ratio of 19.23, a P/E/G ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. As a group, equities analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 1.99%. Lowe’s Companies’s payout ratio is currently 37.67%.

Lowe’s Companies 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.