Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,566 shares of the home improvement retailer’s stock after selling 281 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Lowe’s Companies were worth $2,550,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LOW. Norges Bank acquired a new position in shares of Lowe’s Companies in the fourth quarter worth about $1,638,746,000. Vanguard Group Inc. lifted its stake in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after acquiring an additional 1,199,100 shares during the last quarter. M&G Plc acquired a new stake in Lowe’s Companies in the first quarter valued at approximately $217,995,000. Finally, Pathstone Holdings LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at approximately $126,615,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on LOW. UBS Group lifted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Bank of America dropped their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Truist Financial boosted their target price on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Finally, Piper Sandler dropped their target price on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $244.60 on Tuesday. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The company’s fifty day moving average is $237.15 and its 200-day moving average is $234.30. The company has a market capitalization of $138.76 billion, a PE ratio of 19.65, a P/E/G ratio of 2.00 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the company earned $4.56 EPS. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.88%. Lowe’s Companies’s dividend payout ratio is 36.95%.

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.