McKinley Carter Wealth Services Inc. Sells 69 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

McKinley Carter Wealth Services Inc. cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% in the fourth quarter, Holdings Channel reports. The fund owned 12,777 shares of the home improvement retailer’s stock after selling 69 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Lowe’s Companies were worth $3,153,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in Lowe’s Companies by 37.6% during the 2nd quarter. AQR Capital Management LLC now owns 80,500 shares of the home improvement retailer’s stock valued at $17,664,000 after acquiring an additional 21,995 shares in the last quarter. Ascent Group LLC lifted its stake in shares of Lowe’s Companies by 12.0% during the 2nd quarter. Ascent Group LLC now owns 4,028 shares of the home improvement retailer’s stock worth $888,000 after purchasing an additional 432 shares during the last quarter. Magnolia Capital Advisors LLC bought a new stake in Lowe’s Companies during the second quarter valued at about $394,000. Northwestern Mutual Wealth Management Co. grew its stake in Lowe’s Companies by 7.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 59,954 shares of the home improvement retailer’s stock valued at $13,218,000 after purchasing an additional 4,343 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in Lowe’s Companies by 2.8% in the second quarter. Sunbelt Securities Inc. now owns 6,952 shares of the home improvement retailer’s stock worth $1,533,000 after purchasing an additional 191 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Insider Activity at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the sale, the executive vice president now directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays raised their price target on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Truist Financial cut their price target on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada increased their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Finally, TD Cowen increased their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.85.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $264.68 on Wednesday. The firm has a fifty day moving average of $259.15 and a 200 day moving average of $256.97. The firm has a market cap of $149.45 billion, a PE ratio of 22.07, a PEG ratio of 2.16 and a beta of 1.11. Lowe’s Companies, Inc. has a one year low of $209.81 and a one year high of $287.01.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.74%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 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.