Korea Investment CORP lowered its stake in Lowe's Companies, Inc. (NYSE:LOW) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 868,542 shares of the home improvement retailer’s stock after selling 128,960 shares during the period. Korea Investment CORP owned about 0.10% of Lowe's Companies worth $71,403,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the company. Washington Trust Bank raised its stake in Lowe's Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock worth $102,000 after buying an additional 266 shares during the period. State of Alaska Department of Revenue bought a new stake in Lowe's Companies during the first quarter worth about $109,000. CLS Investments LLC raised its stake in Lowe's Companies by 17.2% in the fourth quarter. CLS Investments LLC now owns 1,832 shares of the home improvement retailer’s stock worth $130,000 after buying an additional 269 shares during the period. CWM LLC raised its stake in Lowe's Companies by 26.3% in the first quarter. CWM LLC now owns 1,700 shares of the home improvement retailer’s stock worth $140,000 after buying an additional 354 shares during the period. Finally, Cohen Capital Management Inc. bought a new stake in Lowe's Companies during the first quarter worth about $164,000. Institutional investors own 74.46% of the company’s stock.
Shares of Lowe's Companies, Inc. (NYSE:LOW) opened at 84.59 on Friday. The stock has a 50 day moving average price of $83.81 and a 200 day moving average price of $76.67. Lowe's Companies, Inc. has a 52 week low of $64.87 and a 52 week high of $86.25. The firm has a market capitalization of $72.52 billion, a PE ratio of 24.38 and a beta of 1.28.
Lowe's Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, March 1st. The home improvement retailer reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. Lowe's Companies had a net margin of 3.91% and a return on equity of 46.46%. The firm had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.39 billion. During the same period in the prior year, the company earned $0.59 EPS. The firm’s revenue was up 19.3% on a year-over-year basis. Equities analysts forecast that Lowe's Companies, Inc. will post $4.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were given a dividend of $0.35 per share. The ex-dividend date was Monday, April 24th. This represents a $1.40 dividend on an annualized basis and a yield of 1.67%. Lowe's Companies’s dividend payout ratio (DPR) is 51.28%.
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LOW has been the subject of a number of analyst reports. Sanford C. Bernstein initiated coverage on Lowe's Companies in a research report on Monday, February 6th. They issued an “underperform” rating and a $66.00 price target for the company. Wedbush restated a “neutral” rating and issued a $77.00 price target on shares of Lowe's Companies in a research report on Friday, February 10th. Zacks Investment Research lowered Lowe's Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, February 15th. Jefferies Group LLC restated a “hold” rating and issued a $78.00 price target on shares of Lowe's Companies in a research report on Thursday, February 16th. Finally, Robert W. Baird restated an “outperform” rating and issued a $85.00 price target on shares of Lowe's Companies in a research report on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $85.14.
In related news, CFO Marshall A. Croom sold 12,700 shares of the company’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $82.14, for a total transaction of $1,043,178.00. Following the completion of the sale, the chief financial officer now directly owns 53,479 shares of the company’s stock, valued at approximately $4,392,765.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Matthew V. Hollifield sold 9,299 shares of the business’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $80.99, for a total transaction of $753,126.01. Following the completion of the transaction, the senior vice president now owns 28,691 shares in the company, valued at approximately $2,323,684.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 520,357 shares of company stock valued at $42,207,226. 0.39% of the stock is owned by corporate insiders.
About Lowe's Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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