Hodges Capital Management Inc. Has $4 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Hodges Capital Management Inc. cut its position in Lowe’s Companies, Inc. (NYSE:LOW) by 26.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,686 shares of the home improvement retailer’s stock after selling 5,662 shares during the period. Hodges Capital Management Inc.’s holdings in Lowe’s Companies were worth $3,996,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $25,000. Tidemark LLC acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $28,000. Orion Capital Management LLC acquired a new stake in shares of Lowe’s Companies in the 3rd quarter valued at about $26,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $31,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $246.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. DA Davidson dropped their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Truist Financial dropped their price target on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Stifel Nicolaus raised their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Finally, Evercore ISI dropped their price target on shares of Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating on the stock in a research report on Wednesday, May 22nd. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $251.33.

Lowe’s Companies Trading Up 0.3 %

NYSE:LOW opened at $220.46 on Friday. The stock has a market capitalization of $125.63 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The firm’s 50 day moving average is $225.32 and its 200 day moving average is $228.40. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating 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 business had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same period in the previous year, the business earned $3.67 EPS. Lowe’s Companies’s revenue was down 4.4% compared to the same quarter last year. Research analysts predict that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be paid a $0.15 dividend. 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 dividend payout ratio is 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.