Short Interest in Lowe’s Companies, Inc. (NYSE:LOW) Increases By 6.6%

Lowe’s Companies, Inc. (NYSE:LOW) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 9,640,000 shares, an increase of 6.6% from the July 15th total of 9,040,000 shares. Based on an average daily volume of 2,640,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 1.7% of the company’s stock are short sold.

Lowe’s Companies Trading Up 0.8 %

Shares of LOW opened at $243.19 on Tuesday. The stock has a market cap of $138.58 billion, a PE ratio of 19.53, a PEG ratio of 1.85 and a beta of 1.07. Lowe’s Companies has a 1 year low of $181.85 and a 1 year high of $262.49. The stock has a 50 day simple moving average of $230.39 and a 200-day simple moving average of $232.04.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.12. The firm had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.67 earnings per share. On average, sell-side analysts forecast that Lowe’s Companies will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Hedge Funds Weigh In On Lowe’s Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOW. Wetzel Investment Advisors Inc. bought a new stake in Lowe’s Companies during the 4th quarter worth approximately $25,000. Tidemark LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at $27,000. Voisard Asset Management Group Inc. bought a new position in shares of Lowe’s Companies in the fourth quarter valued at about $28,000. Transcendent Capital Group LLC acquired a new position in Lowe’s Companies during the 4th quarter worth about $31,000. Finally, Stephens Consulting LLC grew its holdings in Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LOW has been the subject of a number of research reports. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on Lowe’s Companies from $268.00 to $272.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Evercore ISI reduced their price target on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research note on Tuesday. Finally, Truist Financial lowered their target price on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies has an average rating of “Hold” and an average price target of $250.19.

Lowe’s Companies Company 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.