Rather & Kittrell Inc. Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

Rather & Kittrell Inc. lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 8.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,233 shares of the home improvement retailer’s stock after selling 986 shares during the period. Lowe’s Companies makes up 0.7% of Rather & Kittrell Inc.’s investment portfolio, making the stock its 21st largest position. Rather & Kittrell Inc.’s holdings in Lowe’s Companies were worth $2,772,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LOW. Crew Capital Management Ltd. boosted its stake in shares of Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after acquiring an additional 37 shares during the period. Summit Place Financial Advisors LLC boosted its stake in shares of Lowe’s Companies by 2.8% in the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after acquiring an additional 37 shares during the period. Clean Yield Group boosted its stake in shares of Lowe’s Companies by 2.4% in the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after acquiring an additional 38 shares during the period. Drive Wealth Management LLC boosted its stake in Lowe’s Companies by 2.2% during the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after buying an additional 41 shares during the last quarter. Finally, Chapin Davis Inc. boosted its stake in Lowe’s Companies by 1.3% during the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price target for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Bank of America increased their price target on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Sanford C. Bernstein began coverage on Lowe’s Companies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price target for the company. Royal Bank of Canada decreased their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Finally, UBS Group upped their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and an average target price of $273.44.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $271.10 on Friday. The firm has a market capitalization of $153.79 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The business has a fifty day moving average of $264.61 and a 200 day moving average of $242.11. Lowe’s Companies, Inc. has a 1 year low of $189.05 and a 1 year high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the business posted $4.56 EPS. As a group, equities research analysts expect that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.70%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.14%.

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.