Choreo LLC Buys 16,512 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Choreo LLC grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 115.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 30,802 shares of the home improvement retailer’s stock after acquiring an additional 16,512 shares during the quarter. Choreo LLC’s holdings in Lowe’s Companies were worth $6,596,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Lowe’s Companies during the fourth quarter worth about $1,638,746,000. Vanguard Group Inc. grew its position in shares of Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares during the period. Strategic Financial Concepts LLC increased its stake in Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after purchasing an additional 1,199,100 shares in the last quarter. M&G Plc acquired a new stake in Lowe’s Companies during the 1st quarter worth approximately $217,995,000. Finally, Pathstone Holdings LLC bought a new position in Lowe’s Companies in the fourth quarter valued at approximately $126,615,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America lowered their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. dropped their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. DA Davidson cut their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Wedbush reiterated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Finally, Royal Bank of Canada dropped their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Hold” and an average price target of $252.83.

Lowe’s Companies Stock Up 0.3 %

Shares of NYSE LOW opened at $244.60 on Tuesday. The business’s 50 day moving average price is $237.15 and its two-hundred day moving average price is $234.30. The company has a market cap of $138.76 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results 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 negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the previous year, the firm earned $4.56 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

About Lowe’s Companies

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.