KFG Wealth Management LLC Purchases New Shares in Lowe’s Companies, Inc. (NYSE:LOW)

KFG Wealth Management LLC purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 1st quarter, HoldingsChannel reports. The firm purchased 1,037 shares of the home improvement retailer’s stock, valued at approximately $264,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Paragon Private Wealth Management LLC grew its position in Lowe’s Companies by 13.5% during the fourth quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock valued at $1,086,000 after buying an additional 581 shares during the period. ING Groep NV lifted its holdings in Lowe’s Companies by 18,786.5% during the fourth quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock valued at $23,748,000 after purchasing an additional 106,144 shares in the last quarter. Clifford Swan Investment Counsel LLC lifted its holdings 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 valued at $47,947,000 after purchasing an additional 541 shares in the last quarter. Brevan Howard Capital Management LP lifted its holdings in Lowe’s Companies by 824.6% during the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after purchasing an additional 13,680 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in Lowe’s Companies by 1.2% during the fourth 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 purchasing an additional 540 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW opened at $213.17 on Thursday. 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 $121.47 billion, a PE ratio of 17.12, a P/E/G ratio of 1.64 and a beta of 1.08. The firm has a 50-day simple moving average of $224.57 and a two-hundred day simple moving average of $228.32.

Lowe’s Companies (NYSE:LOW) last announced 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 firm had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the previous year, the business posted $3.67 earnings per share. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a $0.15 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.28%. Lowe’s Companies’s dividend payout ratio (DPR) is 35.34%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. DA Davidson decreased their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Evercore ISI decreased their price objective on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a report on Tuesday. Truist Financial decreased their price objective on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Mizuho started coverage on shares of Lowe’s Companies in a report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price objective on the stock. Finally, Gordon Haskett reissued a “hold” rating and issued a $245.00 price target on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies has an average rating of “Hold” and an average target price of $250.41.

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.