Shulman DeMeo Asset Management LLC Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Shulman DeMeo Asset Management LLC boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 12.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,940 shares of the home improvement retailer’s stock after purchasing an additional 216 shares during the period. Shulman DeMeo Asset Management LLC’s holdings in Lowe’s Companies were worth $494,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cardinal Capital Management increased its holdings in Lowe’s Companies by 4.6% in the 1st quarter. Cardinal Capital Management now owns 46,004 shares of the home improvement retailer’s stock worth $11,719,000 after buying an additional 2,023 shares during the period. ERn Financial LLC purchased a new stake in shares of Lowe’s Companies in the first quarter worth about $225,000. Franklin Street Advisors Inc. NC grew its holdings in Lowe’s Companies by 196.6% during the first quarter. Franklin Street Advisors Inc. NC now owns 50,102 shares of the home improvement retailer’s stock worth $12,762,000 after acquiring an additional 33,210 shares during the period. Agate Pass Investment Management LLC raised its position in Lowe’s Companies by 0.5% during the first quarter. Agate Pass Investment Management LLC now owns 13,217 shares of the home improvement retailer’s stock valued at $3,367,000 after acquiring an additional 66 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its holdings in shares of Lowe’s Companies by 26.8% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 8,029 shares of the home improvement retailer’s stock valued at $2,045,000 after purchasing an additional 1,697 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Citigroup decreased their target price on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. DA Davidson decreased their price objective on shares of 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 reissued a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Finally, StockNews.com lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $251.33.

Lowe’s Companies Trading Up 0.5 %

LOW traded up $1.07 on Thursday, hitting $219.85. 2,654,196 shares of the company were exchanged, compared to its average volume of 2,472,512. The company has a market cap of $125.28 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.66 and a beta of 1.08. The firm has a 50-day moving average price of $225.69 and a two-hundred day moving average price of $228.22. 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 released its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period in the prior year, the firm earned $3.67 earnings per share. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a yield of 0.27%. Lowe’s Companies’s payout ratio is currently 35.34%.

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.