Veracity Capital LLC Decreases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Veracity Capital LLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 18.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,340 shares of the home improvement retailer’s stock after selling 539 shares during the quarter. Veracity Capital LLC’s holdings in Lowe’s Companies were worth $596,000 at the end of the most recent reporting period.

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

Lowe’s Companies Price Performance

NYSE LOW traded down $0.40 during trading hours on Thursday, hitting $213.30. 1,423,518 shares of the company’s stock traded hands, compared to its average volume of 2,828,350. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The company has a market capitalization of $121.55 billion, a PE ratio of 17.13, a PEG ratio of 1.64 and a beta of 1.08. The firm’s 50-day moving average is $224.22 and its 200-day moving average is $228.21.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the prior year, the company posted $3.67 EPS. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities research analysts predict that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

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

Wall Street Analyst Weigh In

LOW has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $246.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Wedbush reissued a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies 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 research report on Tuesday, April 2nd. DA Davidson dropped their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Finally, Stifel Nicolaus upped their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $250.41.

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.