Jaffetilchin Investment Partners LLC boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 140.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,220 shares of the home improvement retailer’s stock after buying an additional 4,806 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Lowe’s Companies were worth $637,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. SRS Capital Advisors Inc. increased its position in shares of Lowe’s Companies by 0.4% during the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after purchasing an additional 5 shares during the period. Harbour Capital Advisors LLC bought a new stake in Lowe’s Companies in the first quarter valued at $103,000. Hanson McClain Inc. grew its position in Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock valued at $110,000 after acquiring an additional 45 shares during the period. State of Alaska Department of Revenue grew its position in Lowe’s Companies by 8.3% in the second quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after acquiring an additional 110 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Lowe’s Companies in the first quarter valued at $119,000. 74.11% of the stock is currently owned by institutional investors.
In related news, insider Paul D. Ramsay sold 2,098 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total transaction of $163,685.96. Following the transaction, the insider now directly owns 8,400 shares in the company, valued at approximately $655,368. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew V. Hollifield sold 7,853 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of the transaction, the senior vice president now owns 30,750 shares in the company, valued at $2,407,725. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.
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Shares of Lowe’s Companies, Inc. (LOW) opened at 81.20 on Tuesday. The stock has a 50 day moving average price of $78.58 and a 200-day moving average price of $79.37. The firm has a market capitalization of $67.62 billion, a PE ratio of 23.06 and a beta of 1.07. Lowe’s Companies, Inc. has a 52-week low of $64.87 and a 52-week high of $86.25.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.05). Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The business had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.58 billion. During the same quarter in the prior year, the business earned $1.37 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. Equities analysts forecast that Lowe’s Companies, Inc. will post $4.50 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio (DPR) is 46.20%.
A number of brokerages have weighed in on LOW. Longbow Research reiterated a “buy” rating and issued a $95.00 price target on shares of Lowe’s Companies in a research report on Monday, August 14th. Jefferies Group LLC reiterated a “hold” rating and issued a $75.00 price target on shares of Lowe’s Companies in a research report on Thursday, September 28th. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Friday, August 11th. Piper Jaffray Companies reissued a “hold” rating and issued a $80.00 price objective on shares of Lowe’s Companies in a research note on Friday, September 29th. Finally, Gordon Haskett assumed coverage on Lowe’s Companies in a research note on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. Lowe’s Companies presently has an average rating of “Hold” and an average target price of $85.32.
About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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