Violich Capital Management Inc. held its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,756 shares of the home improvement retailer’s stock at the end of the first quarter. Violich Capital Management Inc.’s holdings in Lowe’s Companies were worth $1,213,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of LOW. Valicenti Advisory Services Inc. increased its stake in shares of Lowe’s Companies by 5.1% in the first quarter. Valicenti Advisory Services Inc. now owns 53,675 shares of the home improvement retailer’s stock worth $4,413,000 after buying an additional 2,625 shares during the period. Heritage Trust Co bought a new stake in shares of Lowe’s Companies during the first quarter worth $789,000. Tufton Capital Management bought a new stake in shares of Lowe’s Companies during the first quarter worth $423,000. Professional Advisory Services Inc. bought a new stake in shares of Lowe’s Companies during the first quarter worth $226,000. Finally, Access Financial Services Inc. increased its stake in shares of Lowe’s Companies by 4.8% in the first quarter. Access Financial Services Inc. now owns 17,736 shares of the home improvement retailer’s stock worth $1,458,000 after buying an additional 811 shares during the period. 74.70% of the stock is owned by hedge funds and other institutional investors.
Shares of Lowe’s Companies, Inc. (NYSE:LOW) opened at 78.32 on Tuesday. The firm has a market cap of $66.12 billion, a PE ratio of 24.56 and a beta of 1.08. The firm has a 50-day moving average of $77.18 and a 200 day moving average of $79.23. Lowe’s Companies, Inc. has a 52-week low of $64.87 and a 52-week high of $86.25. Lowe’s Companies also was the target of unusually large options trading activity on Monday. Traders acquired 6,466 put options on the stock. This is an increase of approximately 538% compared to the typical volume of 1,014 put options.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The firm had revenue of $16.86 billion for the quarter, compared to the consensus estimate of $16.99 billion. During the same period in the prior year, the company earned $0.87 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts predict that Lowe’s Companies, Inc. will post $4.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 9th. Investors of record on Wednesday, July 26th will be given a dividend of $0.41 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, July 24th. This represents a $1.64 annualized dividend and a yield of 2.09%. Lowe’s Companies’s dividend payout ratio is currently 51.57%.
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LOW has been the subject of a number of research reports. Jefferies Group LLC increased their price target on shares of Lowe’s Companies from $80.00 to $94.00 and gave the company a “hold” rating in a report on Friday, May 12th. Zacks Investment Research downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Vetr raised shares of Lowe’s Companies from a “strong sell” rating to a “hold” rating and set a $83.11 price target for the company in a report on Monday, April 24th. BidaskClub downgraded shares of Lowe’s Companies from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Sanford C. Bernstein reissued an “underperform” rating and issued a $69.00 price target on shares of Lowe’s Companies in a report on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $85.39.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 37,716 shares of the company’s stock, valued at $3,024,823.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.
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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