Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lessened its position in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 37.8% during the fourth quarter, Holdings Channel reports. The fund owned 4,284 shares of the home improvement retailer’s stock after selling 2,605 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Lowe’s Companies were worth $953,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Axiom Financial Strategies LLC increased its stake in Lowe’s Companies by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 1,381 shares of the home improvement retailer’s stock valued at $275,000 after buying an additional 123 shares during the period. United Bank increased its stake in Lowe’s Companies by 6.8% during the 1st quarter. United Bank now owns 9,734 shares of the home improvement retailer’s stock valued at $1,968,000 after buying an additional 617 shares during the period. Prudential PLC acquired a new position in Lowe’s Companies during the 1st quarter valued at about $1,629,000. Baird Financial Group Inc. increased its stake in Lowe’s Companies by 0.4% during the 1st quarter. Baird Financial Group Inc. now owns 256,098 shares of the home improvement retailer’s stock valued at $51,780,000 after buying an additional 920 shares during the period. Finally, Covestor Ltd increased its stake in Lowe’s Companies by 74.6% during the 1st quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock valued at $60,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

LOW stock opened at $249.29 on Tuesday. The stock has a market cap of $142.64 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.88 and a beta of 1.13. The firm has a 50 day simple moving average of $233.60 and a 200 day simple moving average of $216.23. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49.

Lowe’s Companies (NYSE:LOWGet Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, topping the consensus estimate of $1.68 by $0.09. The business had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The firm’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period last year, the company posted $2.28 earnings per share. Sell-side analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial raised their target price on shares of Lowe’s Companies from $244.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Wedbush lifted their price objective on shares of Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. StockNews.com cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Mizuho assumed coverage on shares of Lowe’s Companies in a research note on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price objective on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of Lowe’s Companies from $238.00 to $262.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Thirteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $251.60.

Read Our Latest Stock Report on LOW

Lowe’s Companies Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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