Hennessy Advisors Inc. Has $2.71 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Hennessy Advisors Inc. decreased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,300 shares of the home improvement retailer’s stock after selling 200 shares during the quarter. Hennessy Advisors Inc.’s holdings in Lowe’s Companies were worth $2,712,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LOW. PSI Advisors LLC boosted its holdings in Lowe’s Companies by 2.9% in the second quarter. PSI Advisors LLC now owns 2,900 shares of the home improvement retailer’s stock worth $639,000 after acquiring an additional 82 shares in the last quarter. First National Bank & Trust Co. of Newtown boosted its holdings in shares of Lowe’s Companies by 14.6% in the 2nd quarter. First National Bank & Trust Co. of Newtown now owns 1,567 shares of the home improvement retailer’s stock worth $345,000 after buying an additional 200 shares during the last quarter. Koa Wealth Management LLC boosted its holdings in shares of Lowe’s Companies by 3.7% in the 2nd quarter. Koa Wealth Management LLC now owns 10,043 shares of the home improvement retailer’s stock worth $2,214,000 after buying an additional 358 shares during the last quarter. Harbour Trust & Investment Management Co boosted its holdings in shares of Lowe’s Companies by 3.1% in the 2nd quarter. Harbour Trust & Investment Management Co now owns 28,416 shares of the home improvement retailer’s stock worth $6,265,000 after buying an additional 866 shares during the last quarter. Finally, Inlet Private Wealth LLC boosted its holdings in shares of Lowe’s Companies by 8.9% in the 2nd quarter. Inlet Private Wealth LLC now owns 4,043 shares of the home improvement retailer’s stock worth $891,000 after buying an additional 331 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $242.64 on Friday. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The company has a market capitalization of $138.26 billion, a PE ratio of 19.30, a PEG ratio of 1.85 and a beta of 1.07. The business has a fifty day moving average price of $231.45 and a 200-day moving average price of $232.32.

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

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders 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 annualized dividend and a yield of 0.25%. Lowe’s Companies’s payout ratio is 36.95%.

Analyst Ratings Changes

LOW has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial boosted their price target on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday. Gordon Haskett lowered their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday. Evercore ISI boosted their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $252.96.

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.