Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lowered its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,437 shares of the home improvement retailer’s stock after selling 12,521 shares during the quarter. New York Life Investment Management LLC’s holdings in Lowe’s Companies were worth $20,127,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LOW. Wetzel Investment Advisors Inc. acquired a new stake in shares of Lowe’s Companies in the fourth quarter worth approximately $25,000. Orion Capital Management LLC purchased a new stake in Lowe’s Companies in the 3rd quarter valued at about $26,000. VisionPoint Advisory Group LLC boosted its stake in Lowe’s Companies by 85.4% during the third quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Lowe’s Companies in the 3rd quarter valued at approximately $40,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $47,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LOW. Truist Financial boosted their target price on shares of Lowe’s Companies from $258.00 to $271.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Robert W. Baird upgraded shares of Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price objective for the company in a research report on Wednesday, February 14th. Barclays raised their price objective on Lowe’s Companies from $203.00 to $229.00 and gave the stock an “equal weight” rating in a report on Thursday, January 4th. Oppenheimer reaffirmed a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Monday, March 4th. Finally, Wells Fargo & Company raised their price objective on shares of Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Lowe’s Companies currently has an average rating of “Hold” and an average price target of $252.52.

Lowe’s Companies Stock Performance

LOW traded down $0.47 during trading on Wednesday, reaching $227.52. The company had a trading volume of 1,713,901 shares, compared to its average volume of 2,485,454. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The firm’s 50-day simple moving average is $240.11 and its 200 day simple moving average is $220.41. The company has a market cap of $130.18 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.71 and a beta of 1.13.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The firm had revenue of $18.60 billion during the quarter, compared to analyst estimates of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company’s revenue was down 17.1% on a year-over-year basis. During the same quarter last year, the business posted $2.28 EPS. On average, sell-side analysts expect that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.93%. Lowe’s Companies’s payout ratio is presently 33.43%.

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.