Canopy Partners LLC Has $696,000 Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Canopy Partners LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,822 shares of the home improvement retailer’s stock after buying an additional 115 shares during the quarter. Canopy Partners LLC’s holdings in Lowe’s Companies were worth $696,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Lowe’s Companies in the fourth quarter worth $1,842,954,000. Raymond James Financial Inc. acquired a new position in Lowe’s Companies in the 4th quarter worth about $314,435,000. Strategic Financial Concepts LLC raised its stake in shares of Lowe’s Companies by 24,531.0% during 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 in the last quarter. Amundi raised its stake in shares of Lowe’s Companies by 60.1% during the 4th quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock worth $642,730,000 after purchasing an additional 976,823 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its stake 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 valued at $208,843,000 after buying an additional 844,217 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada decreased their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Mizuho lowered their price objective on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Finally, Truist Financial decreased their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $280.35.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $223.05 on Monday. The stock’s fifty day moving average is $242.39 and its 200-day moving average is $256.46. Lowe’s Companies, Inc. has a 52 week low of $211.80 and a 52 week high of $287.01. The stock has a market capitalization of $124.84 billion, a PE ratio of 18.60, a PEG ratio of 1.96 and a beta of 1.07.

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

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.06%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio is 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.