Country Trust Bank Sells 7,630 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Country Trust Bank lessened its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 217,839 shares of the home improvement retailer’s stock after selling 7,630 shares during the period. Lowe’s Companies accounts for 1.3% of Country Trust Bank’s investment portfolio, making the stock its 22nd biggest position. Country Trust Bank’s holdings in Lowe’s Companies were worth $49,166,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LOW. Collective Family Office LLC purchased a new position in Lowe’s Companies during the 2nd quarter valued at about $215,000. Buckley Wealth Management LLC raised its holdings in Lowe’s Companies by 12.0% in the second quarter. Buckley Wealth Management LLC now owns 11,143 shares of the home improvement retailer’s stock worth $2,515,000 after buying an additional 1,193 shares during the last quarter. Thrive Wealth Management LLC raised its holdings in Lowe’s Companies by 11.2% in the second quarter. Thrive Wealth Management LLC now owns 1,130 shares of the home improvement retailer’s stock worth $255,000 after buying an additional 114 shares during the last quarter. Legacy Bridge LLC raised its holdings in Lowe’s Companies by 3.2% in the second quarter. Legacy Bridge LLC now owns 8,350 shares of the home improvement retailer’s stock worth $1,885,000 after buying an additional 260 shares during the last quarter. Finally, Atlantic Union Bankshares Corp raised its holdings in Lowe’s Companies by 0.6% in the second quarter. Atlantic Union Bankshares Corp now owns 55,724 shares of the home improvement retailer’s stock worth $12,577,000 after buying an additional 313 shares during the last quarter. Institutional investors own 71.88% of the company’s stock.

Lowe’s Companies Stock Down 0.6 %

Lowe’s Companies stock traded down $1.37 during mid-day trading on Monday, reaching $218.65. 1,365,269 shares of the company’s stock traded hands, compared to its average volume of 2,821,790. The company has a market cap of $126.19 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.50 and a beta of 1.09. The stock has a 50 day moving average of $227.93 and a two-hundred day moving average of $213.68. Lowe’s Companies, Inc. has a 12-month low of $176.50 and a 12-month high of $237.21.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.49 by $0.07. Lowe’s Companies had a net margin of 6.48% and a negative return on equity of 58.56%. The company had revenue of $24.96 billion for the quarter, compared to the consensus estimate of $24.97 billion. During the same quarter in the prior year, the firm earned $4.67 earnings per share. Lowe’s Companies’s revenue was down 9.2% on a year-over-year basis. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 13.45 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio is currently 43.31%.

Wall Street Analyst Weigh In

LOW has been the subject of several recent analyst reports. Sanford C. Bernstein raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $252.00 to $282.00 in a report on Tuesday, September 5th. DA Davidson lifted their target price on shares of Lowe’s Companies from $228.00 to $237.00 in a report on Wednesday, May 24th. Morgan Stanley lifted their target price on shares of Lowe’s Companies from $235.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 23rd. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 price objective (up from $225.00) on shares of Lowe’s Companies in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus assumed coverage on shares of Lowe’s Companies in a report on Wednesday, September 6th. They set a “buy” rating and a $270.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $237.48.

Insider Activity

In other news, EVP Joseph Michael Mcfarland sold 4,500 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the sale, the executive vice president now owns 46,594 shares of the company’s stock, valued at $10,368,562.82. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Janice Dupre sold 5,380 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $231.28, for a total value of $1,244,286.40. Following the transaction, the executive vice president now directly owns 24,216 shares in the company, valued at $5,600,676.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joseph Michael Mcfarland sold 4,500 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the completion of the transaction, the executive vice president now owns 46,594 shares in the company, valued at $10,368,562.82. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.