Arvest Bank Trust Division Decreases Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Arvest Bank Trust Division reduced its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 86,205 shares of the home improvement retailer's stock after selling 2,001 shares during the period. Lowe's Companies comprises about 1.3% of Arvest Bank Trust Division's investment portfolio, making the stock its 20th biggest position. Arvest Bank Trust Division's holdings in Lowe's Companies were worth $21,275,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of Lowe's Companies by 4.0% in the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer's stock valued at $175,944,000 after acquiring an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in Lowe's Companies by 288.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer's stock worth $4,696,000 after purchasing an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Lowe's Companies by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer's stock valued at $98,104,000 after acquiring an additional 4,435 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in Lowe's Companies by 2.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer's stock valued at $4,894,000 after buying an additional 501 shares during the period. Finally, World Investment Advisors grew its holdings in Lowe's Companies by 11.0% during the fourth quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after purchasing an additional 2,615 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on LOW. Mizuho reduced their target price on Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Piper Sandler dropped their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Royal Bank of Canada decreased their price target on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. DA Davidson restated a "neutral" rating and set a $270.00 target price on shares of Lowe's Companies in a report on Wednesday. Finally, BNP Paribas upgraded shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $278.74.

Lowe's Companies Trading Up 2.1 %

Shares of LOW stock traded up $4.60 during trading on Friday, reaching $219.01. 2,166,819 shares of the company's stock traded hands, compared to its average volume of 2,469,826. Lowe's Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The company has a market capitalization of $122.58 billion, a P/E ratio of 18.27, a PEG ratio of 1.96 and a beta of 1.07. The firm's 50-day moving average is $232.59 and its 200 day moving average is $252.76.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. As a group, sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.10%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio is 37.67%.

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.