Harvest Fund Management Co. Ltd Sells 1,042 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Harvest Fund Management Co. Ltd decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 46.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,179 shares of the home improvement retailer’s stock after selling 1,042 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Lowe’s Companies were worth $262,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Harbour Trust & Investment Management Co purchased a new stake in shares of Lowe’s Companies during the fourth quarter worth about $5,890,000. Biondo Investment Advisors LLC raised its position in shares of Lowe’s Companies by 1.0% during the third quarter. Biondo Investment Advisors LLC now owns 60,958 shares of the home improvement retailer’s stock valued at $12,669,000 after buying an additional 620 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Lowe’s Companies by 18.6% in the fourth quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock worth $829,000 after buying an additional 584 shares in the last quarter. Legacy CG LLC boosted its position in shares of Lowe’s Companies by 25.0% during the fourth quarter. Legacy CG LLC now owns 22,948 shares of the home improvement retailer’s stock worth $5,107,000 after acquiring an additional 4,583 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in Lowe’s Companies during the third quarter valued at $40,000. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LOW. Gordon Haskett reiterated a “hold” rating and issued a $245.00 price target on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Mizuho started coverage on Lowe’s Companies in a research note on Tuesday, March 19th. They set a “buy” rating and a $280.00 price target for the company. DA Davidson reaffirmed a “neutral” rating and issued a $270.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, March 27th. Truist Financial increased their target price on Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Evercore ISI decreased their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $252.52.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $230.29 on Thursday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The firm has a market capitalization of $131.77 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.73 and a beta of 1.13. The stock has a 50 day moving average price of $239.88 and a 200 day moving average price of $219.43.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.09. The business had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.28 EPS. Analysts forecast that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.91%. Lowe’s Companies’s dividend payout ratio is currently 33.43%.

Lowe’s Companies Company 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.