Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lowered its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,496 shares of the home improvement retailer's stock after selling 8,920 shares during the period. State of Tennessee Department of Treasury's holdings in Lowe's Companies were worth $48,989,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in Lowe's Companies by 143.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 30,544 shares of the home improvement retailer's stock valued at $7,538,000 after acquiring an additional 17,987 shares during the last quarter. Tradition Wealth Management LLC lifted its stake in shares of Lowe's Companies by 7.4% in the 4th quarter. Tradition Wealth Management LLC now owns 2,715 shares of the home improvement retailer's stock valued at $670,000 after purchasing an additional 188 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of Lowe's Companies during the 4th quarter worth about $236,000. MetLife Investment Management LLC raised its holdings in Lowe's Companies by 1.4% in the fourth quarter. MetLife Investment Management LLC now owns 150,248 shares of the home improvement retailer's stock valued at $37,081,000 after buying an additional 2,025 shares during the period. Finally, Natixis acquired a new position in Lowe's Companies during the fourth quarter valued at approximately $12,759,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LOW shares. DA Davidson reissued a "neutral" rating and issued a $270.00 target price on shares of Lowe's Companies in a research note on Wednesday, April 16th. Mizuho decreased their target price on Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada dropped their target price on 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. Truist Financial decreased their price target on Lowe's Companies from $295.00 to $258.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, Bank of America dropped their price objective on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lowe's Companies presently has a consensus rating of "Moderate Buy" and a consensus price target of $278.74.

Lowe's Companies Trading Up 2.1 %

NYSE LOW traded up $4.55 during trading hours on Thursday, reaching $222.31. The company's stock had a trading volume of 2,242,740 shares, compared to its average volume of 2,477,659. The business has a 50-day simple moving average of $230.48 and a 200 day simple moving average of $251.65. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01. The stock has a market cap of $124.43 billion, a PE ratio of 18.54, a PEG ratio of 1.96 and a beta of 1.07.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.10. The business had revenue of $18.55 billion for the quarter, compared to the consensus estimate 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, equities analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 2.07%. Lowe's Companies's dividend payout ratio 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.