Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Allen Investment Management LLC

Allen Investment Management LLC decreased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 5.2% during the 1st quarter, HoldingsChannel reports. The fund owned 1,057,193 shares of the home improvement retailer’s stock after selling 57,808 shares during the quarter. Lowe’s Companies comprises approximately 3.4% of Allen Investment Management LLC’s investment portfolio, making the stock its 11th largest holding. Allen Investment Management LLC’s holdings in Lowe’s Companies were worth $269,299,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Wetzel Investment Advisors Inc. acquired a new stake in Lowe’s Companies during the fourth quarter valued at approximately $25,000. Tidemark LLC acquired a new stake in Lowe’s Companies during the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. acquired a new stake in Lowe’s Companies during the fourth quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new stake in Lowe’s Companies during the fourth quarter valued at approximately $31,000. Finally, VisionPoint Advisory Group LLC raised its stake in Lowe’s Companies by 85.4% during the third quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the topic of several research reports. Royal Bank of Canada restated a “sector perform” rating and set a $246.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Zelman & Associates reiterated a “neutral” rating and set a $265.00 price target on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Gordon Haskett reiterated a “hold” rating and set a $245.00 price target on shares of Lowe’s Companies in a research report on Wednesday, April 3rd. Finally, Evercore ISI dropped their price target on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and a consensus price target of $250.04.

Lowe’s Companies Stock Up 1.9 %

NYSE LOW traded up $4.33 on Friday, reaching $234.08. 3,180,752 shares of the stock traded hands, compared to its average volume of 2,778,987. The firm’s fifty day simple moving average is $222.97 and its 200 day simple moving average is $228.05. The company has a market cap of $133.39 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 1.76 and a beta of 1.08. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same period last year, the company posted $3.67 EPS. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.26%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

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.