Aviance Capital Partners LLC Acquires 35,080 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Aviance Capital Partners LLC increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 684.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,206 shares of the home improvement retailer’s stock after buying an additional 35,080 shares during the period. Lowe’s Companies accounts for 1.5% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 11th biggest position. Aviance Capital Partners LLC’s holdings in Lowe’s Companies were worth $10,242,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Paragon Private Wealth Management LLC boosted its holdings in Lowe’s Companies by 13.5% in the 4th quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock valued at $1,086,000 after purchasing an additional 581 shares during the period. ING Groep NV increased its stake in Lowe’s Companies by 18,786.5% in the fourth quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock valued at $23,748,000 after acquiring an additional 106,144 shares during the last quarter. Clifford Swan Investment Counsel LLC lifted its stake in Lowe’s Companies by 0.3% during the fourth quarter. Clifford Swan Investment Counsel LLC now owns 215,442 shares of the home improvement retailer’s stock worth $47,947,000 after purchasing an additional 541 shares during the last quarter. Brevan Howard Capital Management LP boosted its holdings in shares of Lowe’s Companies by 824.6% in the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after purchasing an additional 13,680 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in shares of Lowe’s Companies by 1.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 45,072 shares of the home improvement retailer’s stock valued at $10,031,000 after buying an additional 540 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on LOW. Mizuho initiated coverage on shares of Lowe’s Companies in a research note on Tuesday, March 19th. They set a “buy” rating and a $280.00 price target on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Tuesday, May 21st. DA Davidson lowered their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Citigroup cut their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $246.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Fifteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $251.33.

Lowe’s Companies Trading Down 0.8 %

LOW traded down $1.83 during midday trading on Monday, hitting $218.63. 233,313 shares of the company were exchanged, compared to its average volume of 2,536,118. The company’s 50 day simple moving average is $225.32 and its 200 day simple moving average is $228.49. The firm has a market capitalization of $124.58 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS 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 firm had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period last year, the company earned $3.67 earnings per share. Lowe’s Companies’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business 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 dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is presently 35.34%.

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.