889 Shares in Lowe’s Companies, Inc. (NYSE:LOW) Bought by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 889 shares of the home improvement retailer’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LOW. Wetzel Investment Advisors Inc. bought a new stake in Lowe’s Companies during the fourth quarter valued at $25,000. Tidemark LLC bought a new stake in Lowe’s Companies during the fourth quarter valued at $27,000. Voisard Asset Management Group Inc. bought a new stake in Lowe’s Companies during the fourth quarter valued at $28,000. Orion Capital Management LLC bought a new stake in Lowe’s Companies during the third quarter valued at $26,000. Finally, Transcendent Capital Group LLC bought a new stake in Lowe’s Companies during the fourth quarter valued at $31,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW traded down $0.40 during trading hours on Thursday, hitting $213.30. 1,423,518 shares of the company’s stock traded hands, compared to its average volume of 2,828,350. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The company’s fifty day simple moving average is $224.22 and its two-hundred day simple moving average is $228.21. The company has a market cap of $121.55 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.64 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The company had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same quarter last year, the firm posted $3.67 EPS. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is presently 35.34%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. DA Davidson reduced their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Zelman & Associates reissued a “neutral” rating and set a $265.00 price target on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a report on Tuesday, May 21st. Gordon Haskett reissued a “hold” rating and set a $245.00 price target on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Finally, Truist Financial reduced their price target on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $250.41.

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.