Hobbs Group Advisors LLC Acquires New Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Hobbs Group Advisors LLC bought a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 848 shares of the home improvement retailer’s stock, valued at approximately $187,000.

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

Lowe’s Companies Stock Performance

Lowe’s Companies stock traded down $2.88 during midday trading on Tuesday, hitting $240.33. 3,898,027 shares of the company were exchanged, compared to its average volume of 2,539,220. The business has a fifty day simple moving average of $230.39 and a two-hundred day simple moving average of $232.04. The firm has a market capitalization of $136.95 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the prior year, the firm posted $4.56 earnings per share. The company’s revenue was down 5.5% compared to the same quarter last year. As a group, equities analysts expect that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on LOW. Stifel Nicolaus increased their target price 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. Wedbush reiterated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. upped their target price on shares of Lowe’s Companies from $268.00 to $272.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Citigroup cut their price objective on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Finally, Truist Financial decreased 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. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.