Boltwood Capital Management Sells 277 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Boltwood Capital Management cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,493 shares of the home improvement retailer’s stock after selling 277 shares during the quarter. Lowe’s Companies accounts for about 0.9% of Boltwood Capital Management’s portfolio, making the stock its 29th largest position. Boltwood Capital Management’s holdings in Lowe’s Companies were worth $2,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wood Tarver Financial Group LLC bought a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $25,000. Marshall Investment Management LLC bought a new position in Lowe’s Companies during the fourth quarter worth $31,000. Caisse Des Depots ET Consignations bought a new position in Lowe’s Companies during the fourth quarter worth $33,000. Orion Capital Management LLC bought a new position in shares of Lowe’s Companies during the 4th quarter worth about $36,000. Finally, IFS Advisors LLC boosted its position in shares of Lowe’s Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 60 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Down 0.1%

Shares of LOW opened at $228.51 on Thursday. The business’s 50-day moving average price is $224.01 and its 200-day moving average price is $242.26. Lowe’s Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01. The stock has a market cap of $127.90 billion, a PE ratio of 19.06, a P/E/G ratio of 1.96 and a beta of 1.00.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. The business had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. Lowe’s Companies’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.06 EPS. Analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio is currently 39.77%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. DA Davidson cut their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 target price on Lowe’s Companies and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 21st. Piper Sandler dropped their price objective on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, Morgan Stanley dropped their price objective on shares of Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

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.