Dixon Mitchell Investment Counsel Inc. Has $56.71 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Dixon Mitchell Investment Counsel Inc. trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 222,616 shares of the home improvement retailer’s stock after selling 902 shares during the quarter. Lowe’s Companies makes up 2.8% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 13th biggest holding. Dixon Mitchell Investment Counsel Inc.’s holdings in Lowe’s Companies were worth $56,707,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Morgan Stanley lifted its stake in shares of Lowe’s Companies by 1.1% in the third quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock worth $2,271,836,000 after acquiring an additional 116,855 shares during the period. Norges Bank acquired a new position in shares of Lowe’s Companies in the fourth quarter worth approximately $1,638,746,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Lowe’s Companies by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock worth $714,637,000 after acquiring an additional 41,451 shares during the period. Schroder Investment Management Group lifted its stake in shares of Lowe’s Companies by 1.9% in the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after acquiring an additional 52,859 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Lowe’s Companies in the fourth quarter worth approximately $430,090,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Up 0.1 %

LOW stock traded up $0.19 during midday trading on Tuesday, hitting $213.75. The company’s stock had a trading volume of 2,173,698 shares, compared to its average volume of 2,551,780. The stock’s 50-day moving average price is $224.97 and its 200 day moving average price is $228.40. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The stock has a market cap of $121.80 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.69 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the previous year, the firm earned $3.67 earnings per share. The business’s revenue was down 4.4% on a year-over-year basis. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.28%. Lowe’s Companies’s dividend payout ratio is currently 35.34%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Gordon Haskett reaffirmed a “hold” rating and issued a $245.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Stifel Nicolaus lifted their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $246.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Finally, Oppenheimer reiterated a “market perform” rating and issued a $230.00 target price 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 stock. According to MarketBeat.com, Lowe’s Companies has an average rating of “Hold” and a consensus target price of $250.41.

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.