MidFirst Bank Buys Shares of 2,856 Lowe’s Companies, Inc. $LOW

MidFirst Bank acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,856 shares of the home improvement retailer’s stock, valued at approximately $689,000.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $1,993,697,000. Wellington Management Group LLP grew its stake in Lowe’s Companies by 102.0% in the third quarter. Wellington Management Group LLP now owns 4,204,311 shares of the home improvement retailer’s stock worth $1,056,585,000 after purchasing an additional 2,122,622 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Lowe’s Companies by 45.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,555,565 shares of the home improvement retailer’s stock worth $1,580,941,000 after purchasing an additional 2,039,343 shares in the last quarter. J. Stern & Co. LLP increased its holdings in Lowe’s Companies by 7,814.9% in the fourth quarter. J. Stern & Co. LLP now owns 1,490,369 shares of the home improvement retailer’s stock valued at $359,417,000 after buying an additional 1,471,539 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Lowe’s Companies by 207.2% in the third quarter. Victory Capital Management Inc. now owns 2,058,086 shares of the home improvement retailer’s stock valued at $517,218,000 after buying an additional 1,388,133 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LOW has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Lowe’s Companies from $300.00 to $276.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Argus boosted their price target on Lowe’s Companies from $286.00 to $288.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Craig Hallum raised Lowe’s Companies to a “buy” rating in a research report on Tuesday, May 12th. Bank of America reduced their price objective on Lowe’s Companies from $260.00 to $257.00 and set a “neutral” rating on the stock in a research note on Thursday, May 21st. Finally, Truist Financial decreased their price objective on shares of Lowe’s Companies from $280.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Twenty-three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $264.57.

Insider Buying and Selling

In other news, EVP Janice Dupre sold 14,150 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $221.90, for a total transaction of $3,139,885.00. Following the completion of the sale, the executive vice president owned 39,785 shares in the company, valued at approximately $8,828,291.50. This represents a 26.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Juliette Williams Pryor sold 9,330 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $224.81, for a total value of $2,097,477.30. Following the sale, the executive vice president directly owned 16,142 shares of the company’s stock, valued at approximately $3,628,883.02. This represents a 36.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.29% of the company’s stock.

Lowe’s Companies Trading Down 0.0%

Shares of NYSE LOW opened at $222.10 on Friday. The stock has a 50 day simple moving average of $227.02 and a 200-day simple moving average of $245.52. The company has a market cap of $124.53 billion, a PE ratio of 18.77, a P/E/G ratio of 2.81 and a beta of 0.86. Lowe’s Companies, Inc. has a 12-month low of $203.40 and a 12-month high of $293.06.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, May 20th. The home improvement retailer reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.06. The business had revenue of $23.08 billion during the quarter, compared to the consensus estimate of $22.98 billion. Lowe’s Companies had a net margin of 7.51% and a negative return on equity of 67.96%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.92 earnings per share. Lowe’s Companies has set its FY 2026 guidance at 12.250-12.750 EPS. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.48 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be issued a dividend of $1.25 per share. The ex-dividend date is Wednesday, July 22nd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 2.3%. Lowe’s Companies’s payout ratio is 40.57%.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.