Kathmere Capital Management LLC Cuts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Kathmere Capital Management LLC lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,384 shares of the home improvement retailer’s stock after selling 63 shares during the quarter. Kathmere Capital Management LLC’s holdings in Lowe’s Companies were worth $308,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of LOW. Norges Bank purchased a new position in Lowe’s Companies during the 4th quarter worth $1,638,746,000. Vanguard Group Inc. grew its stake in shares of Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Lowe’s Companies during the 4th quarter worth $430,090,000. Canoe Financial LP acquired a new position in shares of Lowe’s Companies during the 4th quarter worth $206,912,000. Finally, M&G Plc acquired a new position in shares of Lowe’s Companies during the 1st quarter worth $217,995,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 0.4 %

NYSE:LOW traded down $0.94 during trading hours on Friday, hitting $240.42. The stock had a trading volume of 2,258,921 shares, compared to its average volume of 2,483,161. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The business has a 50 day simple moving average of $225.93 and a two-hundred day simple moving average of $230.24. The company has a market cap of $137.00 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The company had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter last year, the company earned $3.67 earnings per share. Lowe’s Companies’s revenue for the quarter was down 4.4% on a year-over-year basis. Research analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be 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 is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Evercore ISI lowered their price objective on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. DA Davidson lowered their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $246.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $250.04.

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.