Coho Partners Ltd. Sells 42,290 Shares of Lowe’s Companies, Inc. $LOW

Coho Partners Ltd. lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 15.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 237,047 shares of the home improvement retailer’s stock after selling 42,290 shares during the period. Lowe’s Companies accounts for 3.9% of Coho Partners Ltd.’s holdings, making the stock its 6th biggest holding. Coho Partners Ltd.’s holdings in Lowe’s Companies were worth $52,594,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SeaBridge Investment Advisors LLC lifted its holdings in Lowe’s Companies by 3.7% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock worth $2,859,000 after buying an additional 465 shares during the period. Larson Financial Group LLC lifted its stake in shares of Lowe’s Companies by 8.1% in the first quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer’s stock worth $3,860,000 after acquiring an additional 1,242 shares during the period. Advent Capital Management DE lifted its stake in shares of Lowe’s Companies by 20.0% in the first quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer’s stock worth $4,198,000 after acquiring an additional 3,000 shares during the period. Cornerstone Wealth Group LLC lifted its stake in shares of Lowe’s Companies by 12.6% in the first quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer’s stock worth $6,848,000 after acquiring an additional 3,295 shares during the period. Finally, Strathmore Capital Advisors Inc. acquired a new position in shares of Lowe’s Companies in the second quarter worth approximately $2,717,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.7%

Lowe’s Companies stock opened at $243.11 on Friday. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $285.24. The firm’s fifty day moving average is $255.14 and its 200 day moving average is $234.62. The company has a market capitalization of $136.34 billion, a PE ratio of 19.98, a PEG ratio of 2.24 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.09. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The company had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. During the same quarter in the previous year, the company earned $4.10 EPS. Lowe’s Companies’s quarterly revenue was up 1.6% compared to the same quarter last year. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio is 39.44%.

Insider Transactions at Lowe’s Companies

In related news, EVP Brandon J. Sink sold 8,192 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the transaction, the executive vice president directly owned 21,603 shares of the company’s stock, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total value of $11,942,606.00. Following the transaction, the executive vice president directly owned 66,566 shares in the company, valued at approximately $18,145,891.60. This trade represents a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,931 shares of company stock valued at $24,945,752 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Mizuho boosted their price target on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Wolfe Research assumed coverage on shares of Lowe’s Companies in a research report on Wednesday, September 17th. They issued an “outperform” rating on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Lowe’s Companies in a report on Wednesday, October 8th. Sanford C. Bernstein boosted their target price on shares of Lowe’s Companies from $266.00 to $279.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Finally, Truist Financial boosted their target price on shares of Lowe’s Companies from $264.00 to $283.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $282.91.

About Lowe’s Companies

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.