Lake Street Advisors Group LLC Has $1.98 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Lake Street Advisors Group LLC decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 8,969 shares of the home improvement retailer’s stock after selling 196 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Lowe’s Companies were worth $1,977,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tidemark LLC bought a new position in Lowe’s Companies in the fourth quarter valued at approximately $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $28,000. Keener Financial Planning LLC acquired a new stake in shares of Lowe’s Companies in the 1st quarter valued at approximately $35,000. Transcendent Capital Group LLC bought a new position in shares of Lowe’s Companies in the fourth quarter valued at $31,000. Finally, Stephens Consulting LLC increased its holdings in Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $243.78 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The stock’s fifty day moving average price is $236.53 and its two-hundred day moving average price is $234.09. The company has a market cap of $138.91 billion, a PE ratio of 19.58, a P/E/G ratio of 2.04 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the previous year, the business posted $4.56 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, equities analysts predict that Lowe’s Companies, Inc. will post 11.94 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd 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 1.89%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is presently 36.95%.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Piper Sandler reduced their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Morgan Stanley upped their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company reduced their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies has an average rating of “Hold” and an average price target of $252.83.

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.