U S Global Investors Inc. reduced its position in shares of Lowe’s Cos. (NYSE:LOW) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,771 shares of the home improvement retailer’s stock after selling 700 shares during the period. U S Global Investors Inc.’s holdings in Lowe’s Cos. were worth $536,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of LOW. CWM LLC raised its stake in Lowe’s Cos. by 0.3% in the second quarter. CWM LLC now owns 1,264 shares of the home improvement retailer’s stock worth $100,000 after buying an additional 4 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Lowe’s Cos. during the second quarter worth about $103,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Lowe’s Cos. during the second quarter worth about $110,000. Global X Management Co. LLC raised its stake in Lowe’s Cos. by 623.3% in the second quarter. Global X Management Co. LLC now owns 1,555 shares of the home improvement retailer’s stock worth $123,000 after buying an additional 1,340 shares during the period. Finally, Washington Trust Bank raised its stake in Lowe’s Cos. by 13.6% in the second quarter. Washington Trust Bank now owns 1,596 shares of the home improvement retailer’s stock worth $126,000 after buying an additional 191 shares during the period. Institutional investors and hedge funds own 75.48% of the company’s stock.
Shares of Lowe’s Cos. (NYSE:LOW) opened at 72.01 on Friday. Lowe’s Cos. has a 12 month low of $62.62 and a 12 month high of $83.65. The firm has a market cap of $62.98 billion, a P/E ratio of 23.34 and a beta of 1.07. The company has a 50-day moving average of $75.05 and a 200-day moving average of $77.34.
Lowe’s Cos. (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by $0.04. Lowe’s Cos. had a return on equity of 43.38% and a net margin of 4.58%. The firm earned $18.26 billion during the quarter, compared to analyst estimates of $18.42 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that Lowe’s Cos. will post $4.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, October 17th. This represents a $1.40 dividend on an annualized basis and a yield of 1.94%. Lowe’s Cos.’s dividend payout ratio is currently 45.16%.
A number of research analysts recently commented on the company. Vetr cut Lowe’s Cos. from a “strong-buy” rating to a “buy” rating and set a $86.38 price objective on the stock. in a report on Monday, June 20th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $89.00 price objective on shares of Lowe’s Cos. in a report on Tuesday, August 16th. Morgan Stanley upgraded Lowe’s Cos. to an “overweight” rating and upped their price objective for the company from $84.00 to $87.00 in a report on Monday, June 6th. BMO Capital Markets upped their price objective on Lowe’s Cos. from $76.43 to $86.00 and gave the company an “outperform” rating in a report on Monday, August 22nd. Finally, Zacks Investment Research cut Lowe’s Cos. from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Lowe’s Cos. currently has an average rating of “Buy” and a consensus target price of $85.93.
Lowe’s Cos. Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Cos. (NYSE:LOW).
Receive News & Ratings for Lowe's Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Cos. and related companies with MarketBeat.com's FREE daily email newsletter.