Spinnaker Investment Group LLC Invests $227,000 in Lowe’s Companies, Inc. (NYSE:LOW)

Spinnaker Investment Group LLC acquired a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 889 shares of the home improvement retailer’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Kingfisher Capital LLC lifted its position in Lowe’s Companies by 0.6% during the third quarter. Kingfisher Capital LLC now owns 17,683 shares of the home improvement retailer’s stock valued at $3,675,000 after purchasing an additional 114 shares during the period. KPP Advisory Services LLC acquired a new position in Lowe’s Companies during the third quarter valued at $453,000. JT Stratford LLC lifted its position in Lowe’s Companies by 22.8% during the third quarter. JT Stratford LLC now owns 3,374 shares of the home improvement retailer’s stock valued at $701,000 after purchasing an additional 627 shares during the period. Schroder Investment Management Group lifted its position in Lowe’s Companies by 189.5% during the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock valued at $581,592,000 after purchasing an additional 1,831,727 shares during the period. Finally, Riggs Asset Managment Co. Inc. lifted its position in Lowe’s Companies by 0.5% during the third quarter. Riggs Asset Managment Co. Inc. now owns 16,732 shares of the home improvement retailer’s stock valued at $3,478,000 after purchasing an additional 87 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on LOW. Truist Financial cut their price objective on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a report on Tuesday, May 21st. DA Davidson cut their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, May 22nd. Finally, Evercore ISI cut their target price on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research note on Tuesday. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $250.41.

Lowe’s Companies Trading Down 0.2 %

Shares of NYSE LOW traded down $0.40 during mid-day trading on Thursday, reaching $213.30. The company had a trading volume of 1,423,518 shares, compared to its average volume of 2,828,350. The firm has a 50 day simple moving average of $224.22 and a two-hundred day simple moving average of $228.21. The stock has a market cap of $121.55 billion, a P/E ratio of 17.13, a PEG ratio of 1.64 and a beta of 1.08. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The firm had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm posted $3.67 EPS. On average, equities analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 35.34%.

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.