Hershey Financial Advisers LLC Purchases New Position in Lowe’s Companies, Inc. (NYSE:LOW)

Hershey Financial Advisers LLC bought a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the 2nd quarter, Holdings Channel reports. The firm bought 364 shares of the home improvement retailer’s stock, valued at approximately $80,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 9258 Wealth Management LLC increased its holdings in Lowe’s Companies by 24.8% during the fourth 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 period. Gryphon Financial Partners LLC increased its holdings in shares of Lowe’s Companies by 10.6% in the 4th 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 during the period. Focus Financial Network Inc. ADV bought a new position in shares of Lowe’s Companies in the 4th quarter worth $358,000. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth $204,000. Finally, Jones Financial Companies Lllp boosted its position in Lowe’s Companies by 5.6% during the fourth quarter. Jones Financial Companies Lllp now owns 92,967 shares of the home improvement retailer’s stock valued at $20,690,000 after purchasing an additional 4,931 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.6 %

Shares of LOW stock opened at $267.14 on Monday. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $268.71. The stock has a 50 day moving average of $246.22 and a 200 day moving average of $236.10. 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 (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for 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 firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.56 earnings per share. On average, research analysts predict 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. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.72%. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LOW shares. UBS Group boosted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada decreased their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Evercore ISI lifted their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Piper Sandler decreased their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Finally, Gordon Haskett reduced their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average price target of $258.13.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

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.