KG&L Capital Management LLC Purchases 1,254 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

KG&L Capital Management LLC grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 17.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,382 shares of the home improvement retailer’s stock after purchasing an additional 1,254 shares during the quarter. KG&L Capital Management LLC’s holdings in Lowe’s Companies were worth $1,955,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Lowe’s Companies in the fourth quarter worth approximately $1,842,954,000. Kovitz Investment Group Partners LLC lifted its position in shares of Lowe’s Companies by 350.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock worth $585,770,000 after purchasing an additional 1,846,315 shares during the period. GAMMA Investing LLC boosted its stake in shares of Lowe’s Companies by 26,796.0% in the 1st quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock valued at $386,540,000 after purchasing an additional 1,651,170 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $314,435,000. Finally, Northern Trust Corp raised its stake in Lowe’s Companies by 16.3% during 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 during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $220.76 on Thursday. The firm has a market cap of $123.72 billion, a PE ratio of 18.29, a P/E/G ratio of 2.08 and a beta of 0.92. Lowe’s Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The stock has a fifty day moving average price of $223.03 and a 200-day moving average price of $236.94.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.06 earnings per share. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.17%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.77%.

Insider Buying and Selling

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the transaction, the executive vice president now owns 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on LOW shares. Truist Financial set a $264.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 target price on Lowe’s Companies and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Morgan Stanley decreased their target price on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. dropped their price target on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company reduced 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, May 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $271.12.

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.