AlphaCore Capital LLC Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

AlphaCore Capital LLC lessened its position in Lowe’s Companies, Inc. (NYSE:LOW) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,284 shares of the home improvement retailer’s stock after selling 86 shares during the quarter. AlphaCore Capital LLC’s holdings in Lowe’s Companies were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Secure Asset Management LLC increased its position in Lowe’s Companies by 79.1% during the 4th quarter. Secure Asset Management LLC now owns 1,599 shares of the home improvement retailer’s stock valued at $395,000 after buying an additional 706 shares in the last quarter. Brighton Jones LLC increased its position in Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after buying an additional 17,413 shares in the last quarter. Sound Income Strategies LLC increased its position in Lowe’s Companies by 17.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,573 shares of the home improvement retailer’s stock valued at $388,000 after buying an additional 237 shares in the last quarter. Impact Partnership Wealth LLC increased its position in Lowe’s Companies by 10.6% during the 4th quarter. Impact Partnership Wealth LLC now owns 968 shares of the home improvement retailer’s stock valued at $239,000 after buying an additional 93 shares in the last quarter. Finally, Goelzer Investment Management Inc. increased its position in Lowe’s Companies by 0.8% during the 4th quarter. Goelzer Investment Management Inc. now owns 24,364 shares of the home improvement retailer’s stock valued at $6,013,000 after buying an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LOW. JPMorgan Chase & Co. reduced their price objective on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. BNP Paribas raised Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. Citigroup reaffirmed a “neutral” rating and set a $253.00 price objective (down previously from $269.00) on shares of Lowe’s Companies in a research report on Wednesday, May 14th. Morgan Stanley reduced their price objective on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, Bank of America reduced their price objective on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $271.52.

Lowe’s Companies Price Performance

Shares of LOW opened at $221.08 on Friday. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The firm has a market capitalization of $123.74 billion, a P/E ratio of 18.44, a PEG ratio of 1.96 and a beta of 1.00. The business has a fifty day moving average of $224.61 and a 200 day moving average of $244.56.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. During the same quarter in the previous year, the company posted $3.06 earnings per share. Lowe’s Companies’s revenue was down 2.0% compared to the same quarter last year. Analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Wednesday, April 23rd. Lowe’s Companies’s payout ratio is currently 37.67%.

About Lowe’s Companies

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.