Mendel Money Management Sells 1,015 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Mendel Money Management cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.7% during the 4th quarter, HoldingsChannel reports. The fund owned 20,551 shares of the home improvement retailer’s stock after selling 1,015 shares during the quarter. Lowe’s Companies makes up 2.3% of Mendel Money Management’s investment portfolio, making the stock its 11th biggest position. Mendel Money Management’s holdings in Lowe’s Companies were worth $5,072,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LOW. FMR LLC increased its holdings in Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $314,435,000. Strategic Financial Concepts LLC raised its position in shares of Lowe’s Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock worth $303,096,000 after purchasing an additional 1,223,116 shares during the last quarter. Amundi grew its holdings in shares of Lowe’s Companies by 60.1% during the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock valued at $642,730,000 after buying an additional 976,823 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of Lowe’s Companies by 42,529.8% in the 4th quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock worth $208,843,000 after purchasing an additional 844,217 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on LOW shares. Evercore ISI boosted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. StockNews.com lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Royal Bank of Canada lowered their target price on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Piper Sandler reduced their price objective on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Wedbush reiterated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $279.71.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $230.61 on Wednesday. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The stock has a market capitalization of $130.21 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.96 and a beta of 1.12. The company’s 50-day simple moving average is $247.26 and its 200-day simple moving average is $257.71.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a $1.15 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.99%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

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.