Farmers & Merchants Investments Inc. Has $36.20 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Farmers & Merchants Investments Inc. lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 133,669 shares of the home improvement retailer’s stock after selling 633 shares during the quarter. Lowe’s Companies comprises 1.1% of Farmers & Merchants Investments Inc.’s holdings, making the stock its 17th biggest position. Farmers & Merchants Investments Inc.’s holdings in Lowe’s Companies were worth $36,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stephens Consulting LLC grew its stake in shares of Lowe’s Companies by 93.3% in the second 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. Keener Financial Planning LLC bought a new position in Lowe’s Companies in the first quarter worth $35,000. MFA Wealth Advisors LLC lifted its position in Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares during the period. Kimelman & Baird LLC bought a new position in Lowe’s Companies in the second quarter worth $37,000. Finally, Tsfg LLC lifted its position in Lowe’s Companies by 128.2% in the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 2.0 %

Shares of Lowe’s Companies stock traded down $5.45 on Tuesday, reaching $262.52. 213,028 shares of the company were exchanged, compared to its average volume of 2,434,858. Lowe’s Companies, Inc. has a one year low of $183.79 and a one year high of $287.01. The company has a market capitalization of $149.59 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 2.24 and a beta of 1.10. The company has a 50-day moving average of $261.31 and a 200 day moving average of $240.09.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.56 EPS. Analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. reduced their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and raised their target price for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Bank of America raised their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Piper Sandler lifted their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $271.60.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.