Lowe’s Companies, Inc. (LOW) Position Reduced by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. decreased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% during the first quarter, Holdings Channel reports. The fund owned 127,656 shares of the home improvement retailer’s stock after selling 361 shares during the period. Oppenheimer & Co. Inc.’s holdings in Lowe’s Companies were worth $10,494,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in LOW. SRS Capital Advisors Inc. increased its stake in shares of Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after buying an additional 5 shares during the last quarter. Washington Trust Bank increased its stake in shares of Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock valued at $102,000 after buying an additional 266 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Lowe’s Companies during the first quarter valued at $109,000. Hanson McClain Inc. increased its stake in shares of Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock valued at $110,000 after buying an additional 45 shares during the last quarter. Finally, First Bank & Trust increased its stake in shares of Lowe’s Companies by 11.5% in the first quarter. First Bank & Trust now owns 1,421 shares of the home improvement retailer’s stock valued at $117,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.
Lowe’s Companies, Inc. (NYSE LOW) traded down 1.26% during midday trading on Thursday, reaching $77.35. The company had a trading volume of 1,139,190 shares. The stock has a market cap of $65.30 billion, a P/E ratio of 24.26 and a beta of 1.08. The firm has a 50-day moving average of $76.78 and a 200-day moving average of $79.39. Lowe’s Companies, Inc. has a 12 month low of $64.87 and a 12 month high of $86.25. Lowe’s Companies also was the target of some unusual options trading activity on Monday. Investors bought 6,466 put options on the stock. This represents an increase of 538% compared to the typical volume of 1,014 put options.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, May 24th. The home improvement retailer reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by $0.03. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The firm had revenue of $16.86 billion for the quarter, compared to analyst estimates of $16.99 billion. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts expect that Lowe’s Companies, Inc. will post $4.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 9th. Shareholders of record on Wednesday, July 26th were given a dividend of $0.41 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.35. This represents a $1.64 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Monday, July 24th. Lowe’s Companies’s payout ratio is currently 51.57%.
Several analysts recently weighed in on the company. BidaskClub downgraded Lowe’s Companies from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Wolfe Research restated an “outperform” rating and set a $94.00 target price (down previously from $95.00) on shares of Lowe’s Companies in a research note on Sunday, May 28th. Goldman Sachs Group, Inc. (The) decreased their target price on Lowe’s Companies from $97.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Sanford C. Bernstein restated an “underperform” rating and set a $69.00 target price on shares of Lowe’s Companies in a research note on Wednesday, July 12th. Finally, BMO Capital Markets restated a “buy” rating and set a $89.00 target price on shares of Lowe’s Companies in a research note on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $85.39.
In other Lowe’s Companies news, insider Richard D. Maltsbarger sold 11,672 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the completion of the transaction, the insider now directly owns 37,716 shares in the company, valued at $3,024,823.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by insiders.
Lowe’s Companies 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.
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