Auxier Asset Management Sells 1,901 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Auxier Asset Management cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,759 shares of the home improvement retailer’s stock after selling 1,901 shares during the quarter. Lowe’s Companies comprises about 1.4% of Auxier Asset Management’s holdings, making the stock its 22nd biggest holding. Auxier Asset Management’s holdings in Lowe’s Companies were worth $8,545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. Schroder Investment Management Group lifted its position in Lowe’s Companies by 1.9% during the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after buying an additional 52,859 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Lowe’s Companies by 36.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after buying an additional 493,180 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Lowe’s Companies by 6.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after acquiring an additional 90,945 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Lowe’s Companies by 14.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,516,347 shares of the home improvement retailer’s stock valued at $337,463,000 after acquiring an additional 194,070 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on LOW shares. Evercore ISI raised their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. Piper Sandler lowered their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. UBS Group increased their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Wedbush reiterated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Hold” and a consensus target price of $253.33.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW opened at $260.17 on Friday. The firm has a market capitalization of $148.25 billion, a P/E ratio of 20.90, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The business has a fifty day moving average of $243.58 and a 200 day moving average of $235.40.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.56 EPS. Analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

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.