Clark Capital Management Group Inc. Sells 428 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Clark Capital Management Group Inc. trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,792 shares of the home improvement retailer’s stock after selling 428 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Lowe’s Companies were worth $3,897,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. FMR LLC grew its stake in Lowe’s Companies by 1.0% during the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer’s stock valued at $6,483,558,000 after acquiring an additional 259,766 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Lowe’s Companies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer’s stock valued at $2,952,341,000 after purchasing an additional 245,876 shares in the last quarter. Norges Bank bought a new stake in shares of Lowe’s Companies in the fourth quarter worth about $1,842,954,000. Northern Trust Corp lifted its position in shares of Lowe’s Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock worth $1,745,960,000 after buying an additional 993,833 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Lowe’s Companies by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock valued at $1,033,283,000 after buying an additional 385,994 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $222.17 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01. The company has a market capitalization of $124.35 billion, a PE ratio of 18.53, a P/E/G ratio of 1.96 and a beta of 1.00. The company has a 50 day moving average price of $225.26 and a 200-day moving average price of $247.19.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10. The business had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. On average, analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.07%. Lowe’s Companies’s dividend payout ratio is currently 37.67%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. KeyCorp raised Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price objective on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on shares of Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research note on Tuesday. Wells Fargo & Company lowered their price objective on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Thursday. Royal Bank of Canada reduced their target price on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $270.00 price target on shares of Lowe’s Companies in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $278.04.

Lowe’s Companies Profile

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