Sheets Smith Wealth Management Has $1.31 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Sheets Smith Wealth Management lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 22.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,872 shares of the home improvement retailer’s stock after selling 1,691 shares during the quarter. Sheets Smith Wealth Management’s holdings in Lowe’s Companies were worth $1,307,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Harbour Trust & Investment Management Co bought a new position in Lowe’s Companies during the fourth quarter worth about $5,890,000. Syon Capital LLC increased its position in Lowe’s Companies by 23.3% during the fourth quarter. Syon Capital LLC now owns 7,129 shares of the home improvement retailer’s stock worth $1,587,000 after acquiring an additional 1,345 shares during the period. Biondo Investment Advisors LLC increased its holdings in Lowe’s Companies by 1.0% in the 3rd quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock valued at $12,669,000 after buying an additional 620 shares during the period. Perigon Wealth Management LLC increased its holdings in Lowe’s Companies by 18.6% in the 4th quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock valued at $829,000 after buying an additional 584 shares during the period. Finally, Legacy CG LLC increased its holdings in Lowe’s Companies by 25.0% in the 4th quarter. Legacy CG LLC now owns 22,948 shares of the home improvement retailer’s stock valued at $5,107,000 after buying an additional 4,583 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the topic of several recent analyst reports. Zelman & Associates reissued a “neutral” rating and issued a $265.00 target price on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Evercore ISI decreased their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Wedbush raised their target price on shares of Lowe’s Companies from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. raised their target price on shares of Lowe’s Companies from $265.00 to $268.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $270.00 price target on shares of Lowe’s Companies in a report on Wednesday, March 27th. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $252.52.

Lowe’s Companies Price Performance

Shares of NYSE:LOW traded up $2.55 during mid-day trading on Friday, hitting $232.13. The company had a trading volume of 1,834,728 shares, compared to its average volume of 2,044,726. The firm has a fifty day moving average price of $240.07 and a 200 day moving average price of $221.10. The company has a market capitalization of $132.82 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.09. The company had revenue of $18.60 billion during 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%. Lowe’s Companies’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.28 EPS. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.90%. Lowe’s Companies’s dividend payout ratio is currently 33.43%.

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.