Lowe’s Companies, Inc. (NYSE:LOW) Stake Lessened by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 315,292 shares of the home improvement retailer’s stock after selling 6,578 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Lowe’s Companies were worth $69,509,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LOW. Wetzel Investment Advisors Inc. bought a new position in shares of Lowe’s Companies during the fourth quarter worth about $25,000. Tidemark LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at about $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 bought a new position in Lowe’s Companies during the 4th quarter worth approximately $31,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Lowe’s Companies in the 4th quarter worth approximately $33,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Shares of NYSE:LOW traded down $2.88 on Tuesday, reaching $240.33. 3,898,001 shares of the company traded hands, compared to its average volume of 2,539,287. The stock has a market capitalization of $136.95 billion, a PE ratio of 19.33, a P/E/G ratio of 1.85 and a beta of 1.07. The company’s 50 day moving average is $230.39 and its 200-day moving average is $232.04. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the company earned $4.56 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is 36.95%.

Wall Street Analyst Weigh In

Several research firms have weighed in on LOW. Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $246.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Citigroup cut their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. JPMorgan Chase & Co. upped their target price on Lowe’s Companies from $268.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Evercore ISI cut their price target on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a report on Tuesday, July 2nd. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Hold” and an average price target of $250.19.

Lowe’s Companies 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.