Independence Bank of Kentucky grew its position in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 5.3% in the second quarter, Holdings Channel.com reports. The fund owned 16,636 shares of the home improvement retailer’s stock after buying an additional 830 shares during the period. Lowe’s Companies makes up approximately 1.0% of Independence Bank of Kentucky’s investment portfolio, making the stock its 21st largest position. Independence Bank of Kentucky’s holdings in Lowe’s Companies were worth $3,668,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in LOW. Tidemark LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at $27,000. Voisard Asset Management Group Inc. acquired a new position in shares of Lowe’s Companies during the fourth quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new position in Lowe’s Companies in the 4th quarter worth approximately $31,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Lowe’s Companies in the 4th quarter valued at approximately $33,000. Finally, Keener Financial Planning LLC bought a new stake in Lowe’s Companies during the 1st quarter valued at $35,000. Institutional investors and hedge funds own 74.06% of the company’s stock.
Lowe’s Companies Price Performance
LOW stock traded up $9.76 on Friday, reaching $250.07. 2,685,374 shares of the company were exchanged, compared to its average volume of 2,537,597. The firm has a market capitalization of $142.50 billion, a PE ratio of 20.09, a PEG ratio of 1.85 and a beta of 1.07. The stock’s fifty day moving average price is $231.99 and its 200 day moving average price is $232.64. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49.
Lowe’s Companies Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Wednesday, July 24th. Lowe’s Companies’s payout ratio is currently 36.95%.
Analyst Ratings Changes
A number of brokerages have recently commented on LOW. Wedbush reissued a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday. Bank of America dropped their target price on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday. UBS Group increased their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company dropped their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Twelve research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $254.04.
Check Out Our Latest Report on Lowe’s Companies
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.
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