Agate Pass Investment Management LLC Grows Position in Lowe’s Companies, Inc. (NYSE:LOW)

Agate Pass Investment Management LLC increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.5% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,415 shares of the home improvement retailer’s stock after buying an additional 198 shares during the quarter. Lowe’s Companies comprises approximately 1.6% of Agate Pass Investment Management LLC’s portfolio, making the stock its 20th biggest position. Agate Pass Investment Management LLC’s holdings in Lowe’s Companies were worth $2,958,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Wetzel Investment Advisors Inc. purchased a new stake in Lowe’s Companies during the 4th quarter valued at $25,000. Tidemark LLC bought a new position in shares of Lowe’s Companies in the 4th quarter worth approximately $27,000. Voisard Asset Management Group Inc. bought a new stake in Lowe’s Companies during the fourth quarter valued at approximately $28,000. Keener Financial Planning LLC bought a new stake in Lowe’s Companies during the first quarter valued at approximately $35,000. Finally, Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 2.2 %

NYSE LOW traded up $5.12 during trading hours on Tuesday, reaching $236.19. 2,771,738 shares of the company traded hands, compared to its average volume of 2,534,283. The company has a 50 day moving average of $228.21 and a two-hundred day moving average of $231.15. 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 capitalization of $134.59 billion, a PE ratio of 18.93, a PEG ratio of 1.85 and a beta of 1.07.

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

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.25%. The ex-dividend date was Wednesday, July 24th. Lowe’s Companies’s payout ratio is currently 36.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Evercore ISI reduced their target price on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $246.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. JPMorgan Chase & Co. raised their target price on shares of Lowe’s Companies from $268.00 to $272.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. DA Davidson decreased their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Finally, Citigroup cut their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $250.19.

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.