Mackenzie Financial Corp Grows Position in Lowe’s Companies, Inc. (NYSE:LOW)

Mackenzie Financial Corp raised its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 12.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,661 shares of the home improvement retailer’s stock after acquiring an additional 15,093 shares during the period. Mackenzie Financial Corp’s holdings in Lowe’s Companies were worth $31,010,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. 9258 Wealth Management LLC increased its stake in Lowe’s Companies by 24.8% in the 4th quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock valued at $531,000 after buying an additional 474 shares during the last quarter. Gryphon Financial Partners LLC grew its holdings in shares of Lowe’s Companies by 10.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,441 shares of the home improvement retailer’s stock valued at $315,000 after acquiring an additional 138 shares in the last quarter. Focus Financial Network Inc. ADV purchased a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $358,000. GM Advisory Group LLC lifted its holdings in Lowe’s Companies by 10.4% during the fourth quarter. GM Advisory Group LLC now owns 1,596 shares of the home improvement retailer’s stock worth $355,000 after acquiring an additional 150 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its position in Lowe’s Companies by 296.8% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 12,126 shares of the home improvement retailer’s stock worth $2,699,000 after purchasing an additional 9,070 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Up 0.6 %

Shares of NYSE:LOW opened at $267.14 on Friday. The company has a 50 day moving average of $246.22 and a 200 day moving average of $236.18. The stock has a market cap of $152.23 billion, a P/E ratio of 21.46, a P/E/G ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $268.71.

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

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analyst Ratings Changes

LOW has been the subject of several research analyst reports. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their target price for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Bank of America decreased their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $258.13.

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.