Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Rather & Kittrell Inc.

Rather & Kittrell Inc. cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 8.8% during the third quarter, HoldingsChannel reports. The fund owned 10,233 shares of the home improvement retailer’s stock after selling 986 shares during the period. Lowe’s Companies comprises 0.7% of Rather & Kittrell Inc.’s holdings, making the stock its 21st biggest position. Rather & Kittrell Inc.’s holdings in Lowe’s Companies were worth $2,772,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JNBA Financial Advisors increased its position in shares of Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 100 shares during the period. MFA Wealth Advisors LLC increased its position in shares of Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after acquiring an additional 70 shares during the period. Stephens Consulting LLC increased its position in shares of 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 acquiring an additional 70 shares during the period. Kimelman & Baird LLC purchased a new stake in shares of Lowe’s Companies during the second quarter worth $37,000. Finally, Tsfg LLC increased its position in shares of Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Piper Sandler upped their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price target for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Royal Bank of Canada cut their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. Finally, Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus target price of $273.44.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $271.10 on Friday. The business’s 50 day simple moving average is $264.61 and its 200-day simple moving average is $242.11. The firm has a market capitalization of $153.79 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $189.05 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued 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 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the previous year, the firm posted $4.56 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is currently 38.14%.

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.