State of Alaska Department of Revenue Reduces Stock Holdings in Lowe’s Companies, Inc. $LOW

State of Alaska Department of Revenue decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,135 shares of the home improvement retailer’s stock after selling 2,889 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lowe’s Companies were worth $29,939,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Howard Hughes Medical Institute acquired a new stake in shares of Lowe’s Companies during the second quarter valued at about $27,000. Solstein Capital LLC increased its holdings in Lowe’s Companies by 627.8% during the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 113 shares during the last quarter. Traub Capital Management LLC acquired a new position in shares of Lowe’s Companies in the 2nd quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Lowe’s Companies by 128.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock valued at $30,000 after buying an additional 76 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new position in shares of Lowe’s Companies during the 2nd quarter valued at approximately $33,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

LOW opened at $256.02 on Friday. The business has a 50 day moving average price of $240.40 and a two-hundred day moving average price of $242.20. The company has a market capitalization of $143.61 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 4.10 and a beta of 0.96. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $274.98.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.89 EPS. Equities analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. Lowe’s Companies’s dividend payout ratio (DPR) is 39.80%.

Analysts Set New Price Targets

LOW has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lowe’s Companies in a research note on Monday, December 29th. UBS Group reduced their price target on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. DA Davidson lowered their price objective on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. TD Cowen decreased their target price on Lowe’s Companies from $275.00 to $250.00 and set a “hold” rating for the company in a research report on Friday, November 21st. Finally, Barclays upgraded Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price target for the company in a report on Wednesday. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $277.52.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.