Mediolanum International Funds Ltd Decreases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Mediolanum International Funds Ltd cut its position in Lowe’s Companies, Inc. (NYSE:LOW) by 75.8% during the fourth quarter, HoldingsChannel reports. The firm owned 24,656 shares of the home improvement retailer’s stock after selling 77,299 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Lowe’s Companies were worth $6,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crews Bank & Trust acquired a new stake in Lowe’s Companies in the fourth quarter valued at $822,000. OLD National Bancorp IN raised its position in shares of Lowe’s Companies by 3.7% during the 4th quarter. OLD National Bancorp IN now owns 10,802 shares of the home improvement retailer’s stock worth $2,666,000 after acquiring an additional 390 shares in the last quarter. Busey Bank lifted its stake in Lowe’s Companies by 0.9% during the fourth quarter. Busey Bank now owns 109,395 shares of the home improvement retailer’s stock worth $26,999,000 after purchasing an additional 980 shares during the last quarter. Baron Wealth Management LLC boosted its holdings in Lowe’s Companies by 3.3% in the fourth quarter. Baron Wealth Management LLC now owns 3,517 shares of the home improvement retailer’s stock valued at $868,000 after purchasing an additional 114 shares in the last quarter. Finally, Strategic Planning Group LLC raised its holdings in Lowe’s Companies by 3.9% during the fourth quarter. Strategic Planning Group LLC now owns 11,256 shares of the home improvement retailer’s stock worth $2,778,000 after purchasing an additional 425 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on LOW. Bank of America increased their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Evercore ISI boosted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Royal Bank of Canada raised their price target on Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, Wedbush restated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average target price of $280.85.

Insider Buying and Selling

In related news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction 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. This trade represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies Price Performance

Shares of LOW opened at $259.91 on Friday. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The firm has a 50 day simple moving average of $259.10 and a 200-day simple moving average of $257.05. The stock has a market cap of $146.76 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 2.19 and a beta of 1.11.

Lowe’s Companies Announces Dividend

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

Lowe’s Companies Company 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.