Chevy Chase Trust Holdings LLC Decreases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Chevy Chase Trust Holdings LLC reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 298,910 shares of the home improvement retailer’s stock after selling 1,605 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Lowe’s Companies worth $69,715,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth $25,000. Caisse Des Depots ET Consignations acquired a new stake in Lowe’s Companies during the 4th quarter worth $33,000. Orion Capital Management LLC acquired a new stake in Lowe’s Companies during the 4th quarter worth $36,000. Inlight Wealth Management LLC acquired a new stake in Lowe’s Companies during the 1st quarter worth $36,000. Finally, IFS Advisors LLC raised its stake in 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 acquiring an additional 60 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president now owns 31,898 shares of the company’s stock, valued at $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LOW. Sanford C. Bernstein set a $266.00 price target on shares of Lowe’s Companies and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. 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. Royal Bank Of Canada dropped their price objective on shares of Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company dropped their price objective on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Finally, KeyCorp upgraded shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price objective on the stock in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

Lowe’s Companies Trading Up 2.8%

LOW stock opened at $218.64 on Tuesday. The company has a market cap of $122.53 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.01 and a beta of 0.92. Lowe’s Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The company’s 50-day moving average price is $222.92 and its 200 day moving average price is $237.17.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.06 earnings per share. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio is 38.11%.

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.