Chevy Chase Trust Holdings LLC Decreases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 315,292 shares of the home improvement retailer’s stock after selling 6,578 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of Lowe’s Companies worth $69,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LOW. Wetzel Investment Advisors Inc. purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at approximately $25,000. Tidemark LLC purchased a new position in shares of Lowe’s Companies in the fourth quarter worth $27,000. Voisard Asset Management Group Inc. purchased a new position in shares of Lowe’s Companies in the fourth quarter worth $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $31,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Lowe’s Companies during the fourth quarter valued at $33,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Lowe’s Companies stock traded down $2.88 during midday trading on Tuesday, reaching $240.33. The company had a trading volume of 3,898,001 shares, compared to its average volume of 2,539,287. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The firm’s fifty day simple moving average is $230.39 and its 200-day simple moving average is $232.04. The company has a market capitalization of $136.95 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.56 earnings per share. On average, analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LOW shares. JPMorgan Chase & Co. raised their target price on Lowe’s Companies from $268.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Truist Financial dropped their target price on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Evercore ISI reduced their price target on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $250.19.

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.