Peapack Gladstone Financial Corp Has $38.06 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Peapack Gladstone Financial Corp grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 154,212 shares of the home improvement retailer’s stock after purchasing an additional 1,078 shares during the period. Peapack Gladstone Financial Corp’s holdings in Lowe’s Companies were worth $38,061,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of LOW. Wedbush Securities Inc. boosted its holdings in Lowe’s Companies by 1.1% during the 4th quarter. Wedbush Securities Inc. now owns 15,108 shares of the home improvement retailer’s stock worth $3,729,000 after acquiring an additional 167 shares during the last quarter. Perennial Investment Advisors LLC lifted its position in shares of Lowe’s Companies by 13.6% during the fourth quarter. Perennial Investment Advisors LLC now owns 2,518 shares of the home improvement retailer’s stock valued at $621,000 after purchasing an additional 301 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Lowe’s Companies by 2.1% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,506 shares of the home improvement retailer’s stock valued at $1,112,000 after purchasing an additional 91 shares in the last quarter. Aviva PLC boosted its holdings in Lowe’s Companies by 6.2% during the fourth quarter. Aviva PLC now owns 342,079 shares of the home improvement retailer’s stock worth $84,425,000 after purchasing an additional 19,962 shares during the last quarter. Finally, KCM Investment Advisors LLC grew its position in Lowe’s Companies by 0.6% in the 4th quarter. KCM Investment Advisors LLC now owns 41,239 shares of the home improvement retailer’s stock worth $10,178,000 after purchasing an additional 265 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LOW has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Stifel Nicolaus lifted their price target on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Mizuho reduced their price objective on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Evercore ISI raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Finally, Royal Bank of Canada cut their price target on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $280.35.

Lowe’s Companies Stock Performance

Shares of LOW opened at $223.05 on Friday. Lowe’s Companies, Inc. has a 52-week low of $211.80 and a 52-week high of $287.01. The stock’s 50-day simple moving average is $242.39 and its 200 day simple moving average is $256.46. The stock has a market capitalization of $124.84 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. On average, research analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s payout ratio is 37.67%.

About Lowe’s Companies

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.