Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Hoey Investments Inc.

Hoey Investments Inc. cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 12.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 9,531 shares of the home improvement retailer’s stock after selling 1,406 shares during the period. Lowe’s Companies comprises about 0.4% of Hoey Investments Inc.’s holdings, making the stock its 18th largest position. Hoey Investments Inc.’s holdings in Lowe’s Companies were worth $2,223,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. Wood Tarver Financial Group LLC acquired a new stake in Lowe’s Companies during the fourth quarter worth about $25,000. Marshall Investment Management LLC acquired a new stake in Lowe’s Companies during the fourth quarter worth about $31,000. Caisse Des Depots ET Consignations acquired a new stake in Lowe’s Companies during the fourth quarter worth about $33,000. Orion Capital Management LLC acquired a new stake in Lowe’s Companies during the fourth quarter worth about $36,000. Finally, IFS Advisors LLC increased its stake in Lowe’s Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 60 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Shares of LOW opened at $216.99 on Friday. The company has a market capitalization of $121.61 billion, a P/E ratio of 18.10, a P/E/G ratio of 1.96 and a beta of 0.92. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The stock has a 50-day moving average price of $223.77 and a 200 day moving average price of $240.11.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Lowe’s Companies’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.06 earnings per share. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.77%.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president now owns 31,898 shares of the company’s stock, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Royal Bank of Canada dropped their price target on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating for the company in a research note on Thursday, May 22nd. JPMorgan Chase & Co. dropped their price target on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Sanford C. Bernstein set a $266.00 target price on Lowe’s Companies and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Wells Fargo & Company lowered their target price on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Finally, DA Davidson lowered their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $271.12.

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.