Ironsides Asset Advisors LLC Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Ironsides Asset Advisors LLC reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 455,036 shares of the home improvement retailer’s stock after selling 15,315 shares during the quarter. Lowe’s Companies makes up about 32.2% of Ironsides Asset Advisors LLC’s holdings, making the stock its biggest holding. Ironsides Asset Advisors LLC owned about 0.08% of Lowe’s Companies worth $112,303,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. StoneX Group Inc. bought a new stake in shares of Lowe’s Companies in the 3rd quarter worth approximately $2,713,000. Principal Financial Group Inc. lifted its stake in Lowe’s Companies by 4.0% in the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after acquiring an additional 24,812 shares during the period. Miracle Mile Advisors LLC boosted its holdings in Lowe’s Companies by 288.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after acquiring an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Lowe’s Companies by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after purchasing an additional 4,435 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its holdings in Lowe’s Companies by 2.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock worth $4,894,000 after purchasing an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of research reports. Mizuho cut their target price on shares of Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. DA Davidson lifted their price objective on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein upped their target price on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Barclays raised their target price on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Finally, Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $224.64 on Friday. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01. The business’s fifty day moving average is $250.18 and its 200 day moving average is $258.56. The stock has a market capitalization of $126.84 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.29 billion. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Company 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.