Allen Investment Management LLC decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 33.3% during the first quarter, Holdings Channel reports. The firm owned 134,603 shares of the home improvement retailer’s stock after selling 67,103 shares during the period. Lowe’s Companies comprises 0.7% of Allen Investment Management LLC’s holdings, making the stock its 25th largest position. Allen Investment Management LLC’s holdings in Lowe’s Companies were worth $11,066,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in LOW. SRS Capital Advisors Inc. raised its position in shares of Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after buying an additional 5 shares during the period. Washington Trust Bank raised its position in shares of Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock worth $102,000 after buying an additional 266 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Lowe’s Companies during the first quarter worth about $109,000. Hanson McClain Inc. raised its position in shares of Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after buying an additional 45 shares during the period. Finally, First Bank & Trust raised its position in shares of Lowe’s Companies by 11.5% in the first quarter. First Bank & Trust now owns 1,421 shares of the home improvement retailer’s stock worth $117,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 74.70% of the company’s stock.

Lowe’s Companies, Inc. (NYSE:LOW) traded down 1.77% on Thursday, hitting $76.95. The stock had a trading volume of 808,288 shares. The company’s 50 day moving average price is $76.78 and its 200-day moving average price is $79.39. Lowe’s Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $86.25. The company has a market cap of $64.96 billion, a price-to-earnings ratio of 24.13 and a beta of 1.08. Lowe’s Companies also was the target of unusually large options trading on Monday. Investors purchased 6,466 put options on the stock. This is an increase of approximately 538% compared to the typical daily volume of 1,014 put options.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by $0.03. The company had revenue of $16.86 billion during the quarter, compared to the consensus estimate of $16.99 billion. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. Equities research analysts anticipate that Lowe’s Companies, Inc. will post $4.62 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Investors of record on Wednesday, July 26th were issued a $0.41 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, July 24th. This represents a $1.64 annualized dividend and a dividend yield of 2.09%. Lowe’s Companies’s dividend payout ratio (DPR) is 51.57%.

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A number of research analysts have weighed in on LOW shares. BidaskClub lowered Lowe’s Companies from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Wolfe Research restated an “outperform” rating and issued a $94.00 price objective (down previously from $95.00) on shares of Lowe’s Companies in a report on Sunday, May 28th. Goldman Sachs Group, Inc. (The) decreased their price objective on Lowe’s Companies from $97.00 to $96.00 and set a “buy” rating on the stock in a report on Thursday, May 25th. Sanford C. Bernstein restated an “underperform” rating and issued a $69.00 price objective on shares of Lowe’s Companies in a report on Wednesday, July 12th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $89.00 target price on shares of Lowe’s Companies in a research note on Thursday, July 20th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $85.39.

In related news, insider Richard D. Maltsbarger sold 11,672 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $80.20, for a total value of $936,094.40. Following the sale, the insider now owns 37,716 shares of the company’s stock, valued at approximately $3,024,823.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

About Lowe’s Companies

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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