FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $2.55 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH decreased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,566 shares of the home improvement retailer’s stock after selling 281 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Lowe’s Companies were worth $2,550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tidemark LLC acquired a new position in Lowe’s Companies during the 4th quarter worth about $27,000. Voisard Asset Management Group Inc. bought a new position in shares of Lowe’s Companies in the 4th quarter valued at about $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $31,000. Stephens Consulting LLC raised its stake in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares during the last quarter. Finally, Keener Financial Planning LLC bought a new stake in shares of Lowe’s Companies during the first quarter worth approximately $35,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Piper Sandler cut their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a report on Tuesday, August 20th. 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. Finally, Truist Financial lifted their target price on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $252.83.

Lowe’s Companies Trading Up 0.3 %

LOW stock opened at $244.60 on Tuesday. The firm has a market capitalization of $138.76 billion, a PE ratio of 19.65, a PEG ratio of 2.00 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The business’s 50 day simple moving average is $237.15 and its 200 day simple moving average is $234.30.

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. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.56 EPS. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.88%. Lowe’s Companies’s payout ratio is 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.