Cadence Bank Sells 412 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Cadence Bank reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,634 shares of the home improvement retailer’s stock after selling 412 shares during the period. Cadence Bank’s holdings in Lowe’s Companies were worth $8,026,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LOW. JNBA Financial Advisors raised its holdings in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. MFA Wealth Advisors LLC increased its holdings in Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares in the last quarter. Stephens Consulting LLC raised its stake in shares of Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies in the second quarter valued at approximately $37,000. Finally, Tsfg LLC boosted its position in shares of Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

LOW has been the subject of a number of analyst reports. DA Davidson increased their price target on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Royal Bank of Canada lifted their price objective on shares of Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 20th. Melius Research started coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. Finally, StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.92.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Lowe’s Companies Trading Down 0.3 %

LOW opened at $274.48 on Wednesday. The company has a market cap of $155.71 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.31 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $196.32 and a 12 month high of $287.01. The business’s 50-day moving average price is $269.47 and its 200-day moving average price is $245.47.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 38.37%.

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.