Wendell David Associates Inc. Has $4.58 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Wendell David Associates Inc. lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 12.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 19,619 shares of the home improvement retailer’s stock after selling 2,898 shares during the period. Wendell David Associates Inc.’s holdings in Lowe’s Companies were worth $4,576,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Lowe’s Companies by 1.0% during the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer’s stock valued at $6,483,558,000 after buying an additional 259,766 shares during the last quarter. Geode Capital Management LLC raised its position in Lowe’s Companies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer’s stock valued at $2,952,341,000 after buying an additional 245,876 shares during the last quarter. Norges Bank bought a new position in Lowe’s Companies during the 4th quarter valued at $1,842,954,000. Northern Trust Corp boosted its holdings in Lowe’s Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock worth $1,745,960,000 after acquiring an additional 993,833 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Lowe’s Companies by 6.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer’s stock worth $1,242,793,000 after acquiring an additional 323,371 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.6%

LOW opened at $215.98 on Tuesday. The firm has a 50-day moving average price of $223.88 and a 200-day moving average price of $239.26. Lowe’s Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01. The company has a market capitalization of $121.04 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.96 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same period last year, the firm earned $3.06 EPS. Lowe’s Companies’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.22%. Lowe’s Companies’s dividend payout ratio is 39.77%.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the transaction, the executive vice president now owns 31,898 shares of the company’s stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LOW has been the subject of several analyst reports. Morgan Stanley lowered their target price on shares of Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Wells Fargo & Company reduced their price objective on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Robert W. Baird dropped their target price on shares of Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Finally, DA Davidson reduced their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $271.12.

Lowe’s Companies 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.