Lowe’s Companies, Inc. (LOW) Position Increased by Nine Chapters Capital Management LLC
Nine Chapters Capital Management LLC increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 32.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,100 shares of the home improvement retailer’s stock after buying an additional 1,500 shares during the period. Nine Chapters Capital Management LLC’s holdings in Lowe’s Companies were worth $501,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Glenview Capital Management LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter valued at $289,894,000. Valicenti Advisory Services Inc. increased its stake in shares of Lowe’s Companies by 5.1% in the first quarter. Valicenti Advisory Services Inc. now owns 53,675 shares of the home improvement retailer’s stock valued at $4,413,000 after buying an additional 2,625 shares in the last quarter. Norman Fields Gottscho Capital Management LLC acquired a new stake in shares of Lowe’s Companies during the first quarter valued at $765,000. CMH Wealth Management LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter valued at $1,419,000. Finally, Heritage Trust Co acquired a new stake in shares of Lowe’s Companies during the first quarter valued at $789,000. Hedge funds and other institutional investors own 74.73% of the company’s stock.
Shares of Lowe’s Companies, Inc. (LOW) traded up 0.59% during midday trading on Friday, reaching $78.37. The company’s stock had a trading volume of 2,492,144 shares. The company’s 50-day moving average price is $77.18 and its 200-day moving average price is $79.23. The company has a market cap of $66.16 billion, a PE ratio of 24.58 and a beta of 1.08. Lowe’s Companies, Inc. has a 12 month low of $64.87 and a 12 month high of $86.25.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 24th. The home improvement retailer reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by $0.03. The company had revenue of $16.86 billion during the quarter, compared to analyst estimates of $16.99 billion. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 earnings per share. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post $4.62 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 9th. Shareholders of record on Wednesday, July 26th will be issued a dividend of $0.41 per share. The ex-dividend date is Monday, July 24th. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.35. This represents a $1.64 dividend on an annualized basis and a yield of 2.09%. Lowe’s Companies’s dividend payout ratio is 51.57%.
A number of equities analysts have issued reports on the company. Oppenheimer Holdings, Inc. set a $100.00 target price on Lowe’s Companies and gave the stock a “buy” rating in a report on Wednesday, May 24th. Wolfe Research reaffirmed an “outperform” rating and issued a $94.00 target price (down previously from $95.00) on shares of Lowe’s Companies in a report on Sunday, May 28th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $69.00 target price on shares of Lowe’s Companies in a report on Wednesday, July 12th. BidaskClub raised Lowe’s Companies from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Finally, Vetr cut Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 price target for the company. in a research note on Monday, May 8th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $85.39.
In other Lowe’s Companies news, insider Richard D. Maltsbarger sold 11,672 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the sale, the insider now directly owns 37,716 shares in the company, valued at approximately $3,024,823.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.11% of the stock is owned by corporate insiders.
About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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