Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Prentice Wealth Management LLC

Prentice Wealth Management LLC trimmed its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,403 shares of the home improvement retailer’s stock after selling 50 shares during the period. Prentice Wealth Management LLC’s holdings in Lowe’s Companies were worth $357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Exchange Bank lifted its holdings in Lowe’s Companies by 2.5% during the first quarter. Exchange Bank now owns 2,268 shares of the home improvement retailer’s stock valued at $578,000 after purchasing an additional 56 shares in the last quarter. Affinity Capital Advisors LLC purchased a new position in Lowe’s Companies during the first quarter valued at $202,000. Keystone Wealth Services LLC purchased a new position in Lowe’s Companies during the first quarter valued at $201,000. Morton Capital Management LLC CA lifted its stake in shares of Lowe’s Companies by 3.1% in the first quarter. Morton Capital Management LLC CA now owns 2,515 shares of the home improvement retailer’s stock worth $641,000 after buying an additional 76 shares in the last quarter. Finally, Wealth Management Partners LLC purchased a new position in shares of Lowe’s Companies in the first quarter worth about $204,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of LOW stock traded up $1.02 during trading on Wednesday, reaching $218.27. The company’s stock had a trading volume of 1,295,815 shares, compared to its average volume of 2,460,584. The company has a market capitalization of $124.38 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 1.66 and a beta of 1.08. The stock’s 50-day moving average price is $225.89 and its 200 day moving average price is $228.28. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The firm had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.67 earnings per share. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a yield of 0.27%. Lowe’s Companies’s dividend payout ratio is currently 35.34%.

Analyst Upgrades and Downgrades

LOW has been the topic of several research reports. DA Davidson decreased their price target 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. Zelman & Associates reissued a “neutral” rating and issued a $265.00 price target on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Stifel Nicolaus raised their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Finally, Gordon Haskett reissued a “hold” rating and issued a $245.00 price target on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $251.33.

Lowe’s Companies 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.