Sanibel Captiva Trust Company Inc. Lowers Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Sanibel Captiva Trust Company Inc. decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 11.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,394 shares of the home improvement retailer’s stock after selling 4,803 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Lowe’s Companies were worth $8,255,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LOW. Wood Tarver Financial Group LLC purchased a new stake in Lowe’s Companies during the 4th quarter valued at approximately $25,000. Marshall Investment Management LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at about $31,000. Caisse Des Depots ET Consignations bought a new position in Lowe’s Companies during the fourth quarter valued at approximately $33,000. Orion Capital Management LLC purchased a new position in Lowe’s Companies during the 4th quarter valued at approximately $36,000. Finally, IFS Advisors LLC raised its holdings in shares of Lowe’s Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LOW shares. Stifel Nicolaus dropped their price objective on shares of Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Tuesday, May 27th. Mizuho set a $280.00 price objective on Lowe’s Companies and gave the company an “outperform” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. dropped their target price on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Piper Sandler decreased their price target on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Finally, Citigroup reiterated 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $271.12.

Insider Transactions at Lowe’s Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the transaction, the executive vice president now directly owns 31,898 shares in the company, valued at $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies Trading Down 0.7%

NYSE:LOW opened at $223.59 on Tuesday. Lowe’s Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01. The company has a market cap of $125.31 billion, a PE ratio of 18.65, a P/E/G ratio of 1.96 and a beta of 0.92. The company’s 50 day moving average is $223.49 and its two-hundred day moving average is $241.12.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the prior year, the firm earned $3.06 EPS. The firm’s revenue was down 2.0% on a year-over-year basis. As a group, analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be issued a $1.20 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio is 39.77%.

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.