Lowe’s Companies, Inc. (NYSE:LOW) Stake Decreased by Gabelli Funds LLC

Gabelli Funds LLC lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,555 shares of the home improvement retailer’s stock after selling 130 shares during the period. Gabelli Funds LLC’s holdings in Lowe’s Companies were worth $12,368,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $25,000. Tidemark LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $31,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $33,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 1.7 %

Shares of NYSE:LOW traded up $4.10 during trading on Friday, reaching $238.87. 1,942,530 shares of the company traded hands, compared to its average volume of 2,878,763. The firm has a fifty day simple moving average of $223.92 and a 200 day simple moving average of $229.47. The firm has a market cap of $136.12 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.83 and a beta of 1.08. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to analyst estimates 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 for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the business posted $3.67 EPS. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors 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 0.25%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s payout ratio is presently 36.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Citigroup lowered their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Evercore ISI decreased their price target on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. Gordon Haskett restated a “hold” rating and issued a $245.00 price target on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday, May 21st. Finally, Truist Financial decreased 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. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Hold” and an average target price of $250.04.

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.