Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Hoey Investments Inc.

Hoey Investments Inc. lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 12.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,531 shares of the home improvement retailer’s stock after selling 1,406 shares during the period. Lowe’s Companies accounts for approximately 0.4% of Hoey Investments Inc.’s investment portfolio, making the stock its 18th biggest holding. Hoey Investments Inc.’s holdings in Lowe’s Companies were worth $2,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LOW. Wood Tarver Financial Group LLC acquired a new position in Lowe’s Companies during the fourth quarter worth approximately $25,000. Marshall Investment Management LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at approximately $31,000. Caisse Des Depots ET Consignations purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at approximately $33,000. Orion Capital Management LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at approximately $36,000. Finally, IFS Advisors LLC grew its stake in shares of Lowe’s Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LOW. JPMorgan Chase & Co. lowered their target price on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Piper Sandler lowered their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. KeyCorp upgraded Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 target price on the stock in a research note on Friday, April 25th. Bank of America lowered their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Citigroup restated a “neutral” rating and issued a $253.00 price target (down from $269.00) on shares of Lowe’s Companies in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $271.12.

Insider Activity

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the transaction, the executive vice president now directly owns 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Down 2.9%

Shares of NYSE:LOW opened at $216.99 on Friday. Lowe’s Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The stock’s fifty day simple moving average is $223.77 and its 200-day simple moving average is $240.11. The company has a market capitalization of $121.61 billion, a P/E ratio of 18.10, a P/E/G ratio of 1.96 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the prior year, the business earned $3.06 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a $1.20 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio is currently 39.77%.

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.