Gabelli Funds LLC Lowers Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Gabelli Funds LLC decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,555 shares of the home improvement retailer’s stock after selling 130 shares during the quarter. Gabelli Funds LLC’s holdings in Lowe’s Companies were worth $12,368,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Paragon Private Wealth Management LLC boosted its stake in shares of Lowe’s Companies by 13.5% in the fourth quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock worth $1,086,000 after buying an additional 581 shares during the last quarter. ING Groep NV boosted its stake in shares of Lowe’s Companies by 18,786.5% in the fourth quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock worth $23,748,000 after buying an additional 106,144 shares during the last quarter. Clifford Swan Investment Counsel LLC raised its holdings in Lowe’s Companies by 0.3% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer’s stock worth $47,947,000 after purchasing an additional 541 shares during the period. Brevan Howard Capital Management LP boosted its position in Lowe’s Companies by 824.6% during the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after purchasing an additional 13,680 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its position in Lowe’s Companies by 1.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 45,072 shares of the home improvement retailer’s stock worth $10,031,000 after purchasing an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Lowe’s Companies stock traded up $4.10 during trading on Friday, reaching $238.87. 1,942,530 shares of the company were exchanged, compared to its average volume of 2,878,763. The stock’s 50 day simple moving average is $223.92 and its two-hundred day simple moving average is $229.47. The company has a market capitalization of $136.12 billion, a P/E ratio of 19.19, a PEG ratio of 1.83 and a beta of 1.08. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.67 earnings per share. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.25%. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LOW shares. Citigroup lowered their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday, May 21st. DA Davidson lowered their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Finally, Stifel Nicolaus increased their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $250.04.

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.