Independence Bank of Kentucky Sells 443 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Independence Bank of Kentucky lowered its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.9% during the 4th quarter, HoldingsChannel reports. The fund owned 14,877 shares of the home improvement retailer’s stock after selling 443 shares during the period. Independence Bank of Kentucky’s holdings in Lowe’s Companies were worth $3,672,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LOW. StoneX Group Inc. purchased a new position in shares of Lowe’s Companies in the 3rd quarter worth about $2,713,000. Principal Financial Group Inc. raised its stake in shares of Lowe’s Companies by 4.0% in the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after purchasing an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in Lowe’s Companies by 288.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after acquiring an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Lowe’s Companies by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after purchasing an additional 4,435 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its position in Lowe’s Companies by 308.0% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer’s stock worth $6,988,000 after purchasing an additional 21,375 shares during the period. Institutional investors own 74.06% of the company’s stock.

Insider Transactions at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the sale, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. TD Cowen increased their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Thursday, December 12th. DA Davidson raised their target price on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Finally, Guggenheim reissued a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Performance

LOW opened at $259.91 on Friday. The stock has a market capitalization of $146.76 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 2.19 and a beta of 1.11. The company has a fifty day moving average of $259.00 and a 200 day moving average of $257.24. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.77%. Lowe’s Companies’s payout ratio is 38.37%.

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.