Hedeker Wealth LLC Holds Position in Lowe’s Cos. (LOW)
Hedeker Wealth LLC held its stake in shares of Lowe’s Cos. (NYSE:LOW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,740 shares of the home improvement retailer’s stock at the end of the second quarter. Hedeker Wealth LLC’s holdings in Lowe’s Cos. were worth $851,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of LOW. CWM LLC increased its stake in shares of Lowe’s Cos. by 0.3% in the second quarter. CWM LLC now owns 1,264 shares of the home improvement retailer’s stock valued at $100,000 after buying an additional 4 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Lowe’s Cos. during the second quarter worth approximately $103,000. Washington Trust Bank increased its position 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 last quarter. Jolley Asset Management LLC increased its position in Lowe’s Cos. by 65.0% in the second quarter. Jolley Asset Management LLC now owns 1,650 shares of the home improvement retailer’s stock worth $131,000 after buying an additional 650 shares during the last quarter. Finally, Cribstone Capital Management LLC acquired a new position in Lowe’s Cos. during the second quarter worth approximately $156,000. Institutional investors own 75.45% of the company’s stock.
Shares of Lowe’s Cos. (NYSE:LOW) traded up 0.37% during midday trading on Tuesday, hitting $70.24. The stock had a trading volume of 5,955,140 shares. Lowe’s Cos. has a 12-month low of $62.62 and a 12-month high of $83.65. The company’s 50-day moving average price is $72.40 and its 200-day moving average price is $77.03. The firm has a market cap of $61.44 billion, a price-to-earnings ratio of 22.77 and a beta of 1.14.
Lowe’s Cos. (NYSE:LOW) last released its earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by $0.04. The firm earned $18.26 billion during the quarter, compared to analyst estimates of $18.42 billion. Lowe’s Cos. had a return on equity of 43.38% and a net margin of 4.58%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. Equities research analysts forecast that Lowe’s Cos. will post $4.02 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be given a $0.35 dividend. The ex-dividend date is Monday, October 17th. This represents a $1.40 dividend on an annualized basis and a yield of 1.99%. Lowe’s Cos.’s dividend payout ratio (DPR) is 45.16%.
A number of research analysts have recently commented on the company. 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. Vetr downgraded 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. Cleveland Research downgraded Lowe’s Cos. from a “buy” rating to a “neutral” rating in a report on Thursday, October 6th. BMO Capital Markets increased 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 downgraded Lowe’s Cos. from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Lowe’s Cos. currently has a consensus rating of “Buy” and a consensus target price of $85.62.
About Lowe’s Cos.
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.
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