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

Chesapeake Wealth Management reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 4.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,279 shares of the home improvement retailer’s stock after selling 115 shares during the quarter. Chesapeake Wealth Management’s holdings in Lowe’s Companies were worth $562,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sugar Maple Asset Management LLC acquired a new position in Lowe’s Companies in the fourth quarter valued at $50,000. Pure Financial Advisors LLC increased its stake in Lowe’s Companies by 9.8% in the fourth quarter. Pure Financial Advisors LLC now owns 1,987 shares of the home improvement retailer’s stock valued at $490,000 after purchasing an additional 177 shares during the last quarter. Tudor Financial Inc. increased its stake in Lowe’s Companies by 23.5% in the fourth quarter. Tudor Financial Inc. now owns 8,557 shares of the home improvement retailer’s stock valued at $2,112,000 after purchasing an additional 1,627 shares during the last quarter. Addenda Capital Inc. increased its stake in Lowe’s Companies by 0.9% in the fourth quarter. Addenda Capital Inc. now owns 36,218 shares of the home improvement retailer’s stock valued at $8,939,000 after purchasing an additional 309 shares during the last quarter. Finally, Ulland Investment Advisors LLC increased its stake in Lowe’s Companies by 1.2% in the fourth quarter. Ulland Investment Advisors LLC now owns 10,255 shares of the home improvement retailer’s stock valued at $2,531,000 after purchasing an additional 123 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the sale, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LOW has been the subject of a number of research reports. Evercore ISI boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Piper Sandler boosted their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Barclays boosted their price target on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. Finally, Royal Bank of Canada boosted their price target on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $261.39 on Tuesday. The company has a market cap of $147.59 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.19 and a beta of 1.11. The stock’s 50-day moving average is $260.10 and its 200-day moving average is $254.89. Lowe’s Companies, Inc. has a 52-week low of $209.55 and a 52-week high of $287.01.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

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.