Cary Street Partners Asset Management LLC Trims Position in Lowe’s Companies, Inc. (NYSE:LOW)

Cary Street Partners Asset Management LLC lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,930 shares of the home improvement retailer’s stock after selling 998 shares during the quarter. Lowe’s Companies comprises 1.1% of Cary Street Partners Asset Management LLC’s portfolio, making the stock its 18th largest holding. Cary Street Partners Asset Management LLC’s holdings in Lowe’s Companies were worth $6,661,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. purchased a new position in shares of Lowe’s Companies during the fourth quarter worth about $25,000. Orion Capital Management LLC purchased a new position in shares of Lowe’s Companies during the third quarter worth about $26,000. VisionPoint Advisory Group LLC grew its holdings in shares of Lowe’s Companies by 85.4% during the third quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Lowe’s Companies during the third quarter worth about $40,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Lowe’s Companies during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.2 %

Shares of NYSE LOW traded down $0.51 during trading on Wednesday, reaching $227.48. The company had a trading volume of 499,736 shares, compared to its average volume of 2,470,544. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The stock has a market cap of $130.16 billion, a PE ratio of 17.32, a P/E/G ratio of 1.71 and a beta of 1.13. The business’s 50-day moving average is $240.11 and its 200 day moving average is $220.41.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The company’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.28 earnings per share. On average, analysts anticipate that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is 33.43%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LOW shares. Oppenheimer restated a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research report on Monday, March 4th. Royal Bank of Canada boosted their target price on Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. Barclays boosted their target price on Lowe’s Companies from $203.00 to $229.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 4th. Wedbush boosted their target price on Lowe’s Companies from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, Wells Fargo & Company boosted their target price on Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $252.52.

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.