Cibc World Market Inc. Lowers Stock Position in Lowe’s Companies, Inc. $LOW

Cibc World Market Inc. trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 24.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 115,861 shares of the home improvement retailer’s stock after selling 36,799 shares during the period. Cibc World Market Inc.’s holdings in Lowe’s Companies were worth $29,117,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Howard Hughes Medical Institute purchased a new stake in shares of Lowe’s Companies in the 2nd quarter valued at $27,000. Solstein Capital LLC boosted its position in Lowe’s Companies by 627.8% in the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after buying an additional 113 shares during the period. Activest Wealth Management increased its position in shares of Lowe’s Companies by 78.5% during the third quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock worth $29,000 after acquiring an additional 51 shares during the period. Traub Capital Management LLC purchased a new stake in shares of Lowe’s Companies during the second quarter worth $30,000. Finally, Vermillion & White Wealth Management Group LLC raised its position in Lowe’s Companies by 128.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Transactions at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the transaction, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $286.97 on Thursday. The stock has a fifty day moving average price of $259.48 and a 200 day moving average price of $250.94. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.34. The company has a market cap of $160.97 billion, a PE ratio of 23.80, a P/E/G ratio of 4.45 and a beta of 0.97.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. Lowe’s Companies’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.89 EPS. Analysts anticipate 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 was paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, January 21st. Lowe’s Companies’s payout ratio is currently 39.80%.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent research reports. HSBC cut their target price on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research note on Friday, November 21st. Bank of America dropped their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Wolfe Research reduced their price target on shares of Lowe’s Companies from $285.00 to $284.00 and set an “outperform” rating for the company in a research report on Wednesday, February 4th. Morgan Stanley raised their price objective on Lowe’s Companies from $270.00 to $296.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Finally, Oppenheimer cut their target price on Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.77.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.