Kerusso Capital Management LLC Purchases 7,426 Shares of Lowe’s Companies, Inc. $LOW

Kerusso Capital Management LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 99.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,914 shares of the home improvement retailer’s stock after purchasing an additional 7,426 shares during the quarter. Lowe’s Companies accounts for about 2.3% of Kerusso Capital Management LLC’s holdings, making the stock its 13th largest holding. Kerusso Capital Management LLC’s holdings in Lowe’s Companies were worth $3,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of LOW. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Lowe’s Companies by 5.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 93,355 shares of the home improvement retailer’s stock valued at $23,461,000 after acquiring an additional 4,450 shares during the last quarter. Magnus Financial Group LLC lifted its holdings in shares of Lowe’s Companies by 8.6% in the 3rd quarter. Magnus Financial Group LLC now owns 2,323 shares of the home improvement retailer’s stock worth $584,000 after acquiring an additional 183 shares during the last quarter. Morey & Quinn Wealth Partners LLC purchased a new stake in shares of Lowe’s Companies in the 3rd quarter valued at $210,000. Procyon Advisors LLC grew its holdings in shares of Lowe’s Companies by 7.2% during the 3rd quarter. Procyon Advisors LLC now owns 5,824 shares of the home improvement retailer’s stock valued at $1,464,000 after purchasing an additional 391 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Lowe’s Companies by 16.0% in the 3rd quarter. Versant Capital Management Inc now owns 5,929 shares of the home improvement retailer’s stock worth $1,490,000 after purchasing an additional 816 shares during the period. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LOW. Oppenheimer cut their price target on shares of Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, December 5th. Gordon Haskett raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research note on Tuesday. HSBC reduced their price target on Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research report on Friday, November 21st. Stifel Nicolaus boosted their price objective on Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, December 1st. Finally, Evercore ISI reissued a “positive” rating on shares of Lowe’s Companies in a research note on Thursday, November 20th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $280.92.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the sale, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. The trade was a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by insiders.

Lowe’s Companies Stock Performance

NYSE LOW opened at $276.87 on Friday. The stock has a market cap of $155.31 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 4.56 and a beta of 0.96. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $278.21. The stock has a 50 day simple moving average of $244.14 and a two-hundred day simple moving average of $244.01.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The company had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. During the same quarter in the prior year, the company earned $2.89 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Lowe’s Companies’s payout ratio is currently 39.80%.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.