Chesapeake Wealth Management Decreases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Chesapeake Wealth Management trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.8% during the 3rd quarter, Holdings Channel reports. The fund owned 2,394 shares of the home improvement retailer’s stock after selling 94 shares during the period. Chesapeake Wealth Management’s holdings in Lowe’s Companies were worth $648,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Knuff & Co LLC raised its holdings in shares of Lowe’s Companies by 5.9% during the 3rd quarter. Knuff & Co LLC now owns 1,005 shares of the home improvement retailer’s stock worth $272,000 after acquiring an additional 56 shares in the last quarter. Caprock Group LLC raised its holdings in shares of Lowe’s Companies by 2.5% during the 3rd quarter. Caprock Group LLC now owns 15,427 shares of the home improvement retailer’s stock worth $4,178,000 after acquiring an additional 383 shares in the last quarter. Baron Wealth Management LLC raised its holdings in shares of Lowe’s Companies by 10.7% during the 3rd quarter. Baron Wealth Management LLC now owns 3,403 shares of the home improvement retailer’s stock worth $922,000 after acquiring an additional 329 shares in the last quarter. OneAscent Wealth Management LLC purchased a new stake in shares of Lowe’s Companies during the 3rd quarter worth approximately $419,000. Finally, Meeder Advisory Services Inc. raised its holdings in shares of Lowe’s Companies by 3.8% during the 3rd quarter. Meeder Advisory Services Inc. now owns 14,593 shares of the home improvement retailer’s stock worth $3,952,000 after acquiring an additional 536 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LOW. Royal Bank of Canada decreased their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Stifel Nicolaus increased their price target on Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a report on Monday, November 11th. Telsey Advisory Group upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price target for the company from $275.00 to $305.00 in a report on Friday, November 8th. Finally, Melius Research began coverage on Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus target price of $273.84.

Lowe’s Companies Trading Up 0.9 %

Shares of NYSE LOW opened at $271.87 on Tuesday. Lowe’s Companies, Inc. has a 12-month low of $196.23 and a 12-month high of $287.01. The stock has a market cap of $154.23 billion, a PE ratio of 22.54, a P/E/G ratio of 2.21 and a beta of 1.10. The company has a 50-day moving average of $267.74 and a 200 day moving average of $244.04.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the prior year, the company earned $4.56 EPS. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.69%. Lowe’s Companies’s dividend payout ratio is presently 38.14%.

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.