Cypress Capital LLC Increases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Cypress Capital LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOWGet Rating) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,534 shares of the home improvement retailer’s stock after buying an additional 257 shares during the quarter. Cypress Capital LLC’s holdings in Lowe’s Companies were worth $1,928,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Teacher Retirement System of Texas raised its position in shares of Lowe’s Companies by 5.0% during the 1st quarter. Teacher Retirement System of Texas now owns 256,560 shares of the home improvement retailer’s stock valued at $51,874,000 after buying an additional 12,296 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Lowe’s Companies by 13.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,946 shares of the home improvement retailer’s stock valued at $596,000 after buying an additional 340 shares in the last quarter. Egerton Capital UK LLP raised its position in shares of Lowe’s Companies by 56.2% during the 1st quarter. Egerton Capital UK LLP now owns 3,610,961 shares of the home improvement retailer’s stock valued at $730,100,000 after buying an additional 1,299,622 shares in the last quarter. MONECO Advisors LLC raised its position in shares of Lowe’s Companies by 4.4% during the 1st quarter. MONECO Advisors LLC now owns 3,101 shares of the home improvement retailer’s stock valued at $627,000 after buying an additional 132 shares in the last quarter. Finally, Lincoln National Corp raised its position in shares of Lowe’s Companies by 2.4% during the 1st quarter. Lincoln National Corp now owns 10,343 shares of the home improvement retailer’s stock valued at $2,091,000 after buying an additional 245 shares in the last quarter. 75.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on LOW shares. Loop Capital decreased their target price on shares of Lowe’s Companies from $240.00 to $190.00 in a research report on Tuesday, April 12th. Wells Fargo & Company cut their price target on shares of Lowe’s Companies from $240.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday. OTR Global downgraded shares of Lowe’s Companies to a “positive” rating in a report on Tuesday, May 10th. Piper Sandler upped their price target on shares of Lowe’s Companies to $246.00 and gave the company an “underweight” rating in a report on Thursday, May 19th. Finally, Jefferies Financial Group cut their price target on shares of Lowe’s Companies from $290.00 to $238.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $238.58.

Lowe’s Companies Stock Performance

Shares of LOW opened at $199.08 on Friday. The company has a 50 day moving average price of $185.71 and a 200-day moving average price of $203.88. Lowe’s Companies, Inc. has a fifty-two week low of $170.12 and a fifty-two week high of $263.31. The stock has a market capitalization of $127.24 billion, a PE ratio of 16.22, a PEG ratio of 1.24 and a beta of 1.25.

Lowe’s Companies (NYSE:LOWGet Rating) last announced its quarterly earnings results on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.27. Lowe’s Companies had a net margin of 8.85% and a negative return on equity of 251.50%. The firm had revenue of $23.66 billion during the quarter, compared to analysts’ expectations of $23.72 billion. During the same quarter in the prior year, the company earned $3.21 EPS. The company’s revenue was down 3.1% compared to the same quarter last year. Equities research analysts forecast that Lowe’s Companies, Inc. will post 13.45 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 3rd. Shareholders of record on Wednesday, July 20th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.11%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Tuesday, July 19th. Lowe’s Companies’s dividend payout ratio (DPR) is 34.23%.

About Lowe’s Companies

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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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