FARMERS & MERCHANTS TRUST Co OF LONG BEACH Acquires 273 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,847 shares of the home improvement retailer’s stock after acquiring an additional 273 shares during the quarter. Lowe’s Companies makes up approximately 0.7% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings, making the stock its 28th biggest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Lowe’s Companies were worth $3,018,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LOW. Norges Bank bought a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $1,638,746,000. International Assets Investment Management LLC acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $430,090,000. Schroder Investment Management Group boosted its holdings in shares of Lowe’s Companies by 189.5% in the 3rd quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock valued at $581,592,000 after buying an additional 1,831,727 shares during the last quarter. Canoe Financial LP acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $206,912,000. Finally, Pathstone Holdings LLC acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $126,615,000. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Performance

Shares of NYSE LOW traded down $1.06 during mid-day trading on Tuesday, reaching $212.50. The company had a trading volume of 642,874 shares, compared to its average volume of 2,539,632. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The firm has a market cap of $121.09 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.69 and a beta of 1.08. The business’s 50-day simple moving average is $225.32 and its 200 day simple moving average is $228.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the business earned $3.67 earnings per share. Lowe’s Companies’s revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is presently 35.34%.

Analysts Set New Price Targets

Several research firms have recently commented on LOW. Gordon Haskett reissued a “hold” rating and issued a $245.00 price objective on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Citigroup cut their price objective on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Wedbush reissued a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a report on Tuesday, May 21st. Finally, Oppenheimer reaffirmed a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a report on Monday, March 4th. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $251.33.

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.