Farmers & Merchants Investments Inc. Sells 1,708 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Farmers & Merchants Investments Inc. reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 134,302 shares of the home improvement retailer’s stock after selling 1,708 shares during the period. Lowe’s Companies comprises about 1.0% of Farmers & Merchants Investments Inc.’s investment portfolio, making the stock its 21st biggest position. Farmers & Merchants Investments Inc.’s holdings in Lowe’s Companies were worth $29,608,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Lowe’s Companies in the fourth quarter worth approximately $1,638,746,000. Vanguard Group Inc. grew its holdings in shares of Lowe’s Companies by 5.2% in the first 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 last quarter. Canoe Financial LP bought a new position in shares of Lowe’s Companies in the fourth quarter worth approximately $206,912,000. M&G Plc bought a new position in shares of Lowe’s Companies in the first quarter worth approximately $217,995,000. Finally, Pathstone Holdings LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at $126,615,000. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Performance

Shares of LOW traded up $2.63 during trading hours on Friday, hitting $246.74. The company had a trading volume of 131,090 shares, compared to its average volume of 2,502,462. The firm has a fifty day moving average price of $236.06 and a 200-day moving average price of $233.98. The stock has a market capitalization of $140.60 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 2.04 and a beta of 1.07. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping 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 negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.56 EPS. Research analysts anticipate that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 36.95%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LOW shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a report on Tuesday, August 20th. Piper Sandler cut their price target on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Morgan Stanley lifted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Stifel Nicolaus lifted their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a report on Monday, May 13th. Finally, Royal Bank of Canada cut their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $252.83.

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.