Manuka Financial LLC Buys New Position in Lowe’s Companies, Inc. (NYSE:LOW)

Manuka Financial LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, HoldingsChannel.com reports. The fund bought 980 shares of the home improvement retailer’s stock, valued at approximately $242,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in Lowe’s Companies in the 3rd quarter valued at approximately $27,000. IFS Advisors LLC acquired a new stake in Lowe’s Companies in the 4th quarter valued at approximately $25,000. JNBA Financial Advisors raised its position in Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Winch Advisory Services LLC raised its position in Lowe’s Companies by 56.4% in the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after buying an additional 44 shares during the last quarter. Finally, MFA Wealth Advisors LLC grew its stake in Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares in 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 $259.91 on Friday. The stock has a market capitalization of $146.76 billion, a PE ratio of 21.68, a P/E/G ratio of 2.19 and a beta of 1.11. The business has a fifty day moving average price of $259.00 and a two-hundred day moving average price of $257.24. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.77%. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. DA Davidson raised their price target on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Wedbush restated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Stifel Nicolaus raised their price target on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

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.