Tcwp LLC Invests $304,000 in Lowe’s Companies, Inc. (NYSE:LOW)

Tcwp LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOWGet Rating) in the first quarter, HoldingsChannel reports. The fund bought 1,507 shares of the home improvement retailer’s stock, valued at approximately $304,000.

Several other hedge funds have also modified their holdings of the stock. Joseph P. Lucia & Associates LLC acquired a new stake in Lowe’s Companies in the first quarter valued at approximately $27,000. Macroview Investment Management LLC boosted its stake in shares of Lowe’s Companies by 49.1% in the first quarter. Macroview Investment Management LLC now owns 158 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 52 shares during the period. O Dell Group LLC acquired a new stake in Lowe’s Companies during the 1st quarter valued at $34,000. Compagnie Lombard Odier SCmA boosted its position in Lowe’s Companies by 100.0% in the 1st quarter. Compagnie Lombard Odier SCmA now owns 180 shares of the home improvement retailer’s stock valued at $36,000 after buying an additional 90 shares during the last quarter. Finally, DeDora Capital Inc. acquired a new stake in shares of Lowe’s Companies during the first quarter valued at about $39,000. 75.46% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of LOW opened at $214.12 on Wednesday. Lowe’s Companies, Inc. has a 12 month low of $170.12 and a 12 month high of $263.31. The stock has a fifty day moving average price of $186.88 and a 200 day moving average price of $202.47. The company has a market cap of $136.85 billion, a P/E ratio of 17.45, a PEG ratio of 1.18 and a beta of 1.25.

Lowe’s Companies (NYSE:LOWGet Rating) last released its quarterly earnings results on Wednesday, May 18th. The home improvement retailer reported $3.51 EPS for the quarter, topping the consensus estimate of $3.24 by $0.27. The business had revenue of $23.66 billion during the quarter, compared to analyst estimates of $23.72 billion. Lowe’s Companies had a net margin of 8.85% and a negative return on equity of 251.50%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.21 earnings per share. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 13.41 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 3rd. Investors of record on Wednesday, July 20th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.96%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.80. The ex-dividend date was Tuesday, July 19th. Lowe’s Companies’s dividend payout ratio is 34.23%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LOW. OTR Global downgraded Lowe’s Companies to a “positive” rating in a report on Tuesday, May 10th. Morgan Stanley decreased their price target on shares of Lowe’s Companies from $280.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Piper Sandler upped their price target on shares of Lowe’s Companies to $246.00 and gave the company an “underweight” rating in a report on Thursday, May 19th. UBS Group reduced their price objective on shares of Lowe’s Companies from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. Finally, Jefferies Financial Group dropped their target price on shares of Lowe’s Companies from $290.00 to $238.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $236.63.

Lowe’s Companies Profile

(Get Rating)

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.

Further Reading

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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