Black Cypress Capital Management LLC Cuts Position in Lowe's Companies, Inc. (NYSE:LOW)

Black Cypress Capital Management LLC lessened its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,601 shares of the home improvement retailer's stock after selling 2,918 shares during the period. Lowe's Companies makes up 3.1% of Black Cypress Capital Management LLC's holdings, making the stock its 12th biggest position. Black Cypress Capital Management LLC's holdings in Lowe's Companies were worth $3,604,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Lowe's Companies during the fourth quarter worth $1,842,954,000. Raymond James Financial Inc. acquired a new stake in shares of Lowe's Companies in the 4th quarter valued at $314,435,000. Strategic Financial Concepts LLC lifted its holdings in Lowe's Companies by 24,531.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock worth $303,096,000 after buying an additional 1,223,116 shares during the last quarter. Amundi boosted its holdings in Lowe's Companies by 60.1% in the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer's stock valued at $642,730,000 after purchasing an additional 976,823 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Lowe's Companies by 42,529.8% in the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer's stock valued at $208,843,000 after acquiring an additional 844,217 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday. Bank of America reduced their price target on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada cut their price target on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Piper Sandler lowered their price target on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Finally, Truist Financial cut their price target on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $278.74.

Lowe's Companies Stock Performance

Shares of Lowe's Companies stock traded down $3.68 on Tuesday, hitting $220.46. The stock had a trading volume of 2,804,309 shares, compared to its average volume of 2,466,191. The firm has a market capitalization of $123.40 billion, a P/E ratio of 18.39, a PEG ratio of 1.96 and a beta of 1.07. The stock has a 50 day moving average of $235.57 and a 200 day moving average of $253.99. Lowe's Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. The firm had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. Equities analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 2.09%. Lowe's Companies's dividend payout ratio (DPR) is presently 37.67%.

Lowe's Companies Profile

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.