Tabor Asset Management LP Decreases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Tabor Asset Management LP lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 14.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,134 shares of the home improvement retailer’s stock after selling 2,446 shares during the period. Tabor Asset Management LP’s holdings in Lowe’s Companies were worth $3,146,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new position in Lowe’s Companies in the 4th quarter worth $25,000. Tidemark LLC acquired a new position in shares of Lowe’s Companies in the fourth quarter worth about $27,000. Orion Capital Management LLC purchased a new position in Lowe’s Companies in the third quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Lowe’s Companies during the 4th quarter valued at approximately $33,000. Finally, VisionPoint Advisory Group LLC increased its holdings in Lowe’s Companies by 85.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Shares of NYSE LOW traded down $1.78 during mid-day trading on Friday, reaching $216.67. 1,602,454 shares of the company traded hands, compared to its average volume of 2,473,379. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The firm has a market cap of $123.47 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.66 and a beta of 1.08. The stock has a fifty day simple moving average of $229.21 and a 200-day simple moving average of $226.28.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. The company had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.67 EPS. As a group, analysts predict that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. Lowe’s Companies’s payout ratio is currently 35.34%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LOW. Robert W. Baird raised shares of Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price target for the company in a research report on Wednesday, February 14th. Gordon Haskett restated a “hold” rating and issued a $245.00 target price on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Truist Financial reduced their price target on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Zelman & Associates reissued a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday, May 21st. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $251.33.

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.