Chesapeake Wealth Management Lowers Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Chesapeake Wealth Management reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,394 shares of the home improvement retailer’s stock after selling 94 shares during the quarter. Chesapeake Wealth Management’s holdings in Lowe’s Companies were worth $648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Knuff & Co LLC raised its stake in Lowe’s Companies by 5.9% in the third quarter. Knuff & Co LLC now owns 1,005 shares of the home improvement retailer’s stock valued at $272,000 after purchasing an additional 56 shares in the last quarter. Caprock Group LLC raised its stake in Lowe’s Companies by 2.5% in the third quarter. Caprock Group LLC now owns 15,427 shares of the home improvement retailer’s stock valued at $4,178,000 after purchasing an additional 383 shares in the last quarter. Baron Wealth Management LLC raised its stake in Lowe’s Companies by 10.7% in the third quarter. Baron Wealth Management LLC now owns 3,403 shares of the home improvement retailer’s stock valued at $922,000 after purchasing an additional 329 shares in the last quarter. OneAscent Wealth Management LLC purchased a new position in shares of Lowe’s Companies during the third quarter worth approximately $419,000. Finally, Meeder Advisory Services Inc. raised its stake in shares of Lowe’s Companies by 3.8% during the third quarter. Meeder Advisory Services Inc. now owns 14,593 shares of the home improvement retailer’s stock worth $3,952,000 after acquiring an additional 536 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the company’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 completion of the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Up 0.9 %

Shares of LOW stock opened at $271.87 on Tuesday. Lowe’s Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01. The stock has a market cap of $154.23 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. The company’s fifty day moving average price is $267.74 and its 200-day moving average price is $244.04.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the firm earned $4.56 EPS. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is currently 38.14%.

Analysts Set New Price Targets

Several research firms have commented on LOW. Wells Fargo & Company lifted their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. UBS Group lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. TD Cowen lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Truist Financial lifted their price target on shares of Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $273.84.

About Lowe’s Companies

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.