FormulaFolio Investments LLC Sells 40 Shares of Lowe’s Companies, Inc. (LOW)

FormulaFolio Investments LLC Sells 40 Shares of Lowe’s Companies, Inc. (LOW)

FormulaFolio Investments LLC reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,232 shares of the home improvement retailer’s stock after selling 40 shares during the period. FormulaFolio Investments LLC’s holdings in Lowe’s Companies were worth $1,317,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LOW. Bank of Montreal Can raised its stake in Lowe’s Companies by 7.7% in the third quarter. Bank of Montreal Can now owns 3,868,563 shares of the home improvement retailer’s stock valued at $279,350,000 after buying an additional 275,743 shares in the last quarter. BlackRock Inc. raised its position in shares of Lowe’s Companies by 9.8% in the second quarter. BlackRock Inc. now owns 2,857,228 shares of the home improvement retailer’s stock worth $226,205,000 after buying an additional 254,254 shares during the period. APG Asset Management N.V. raised its position in shares of Lowe’s Companies by 7.6% in the third quarter. APG Asset Management N.V. now owns 2,376,350 shares of the home improvement retailer’s stock worth $171,596,000 after buying an additional 168,100 shares during the period. Alliancebernstein L.P. raised its position in shares of Lowe’s Companies by 30.8% in the second quarter. Alliancebernstein L.P. now owns 2,214,424 shares of the home improvement retailer’s stock worth $175,316,000 after buying an additional 521,030 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Lowe’s Companies by 29.4% in the second quarter. Bessemer Group Inc. now owns 2,017,180 shares of the home improvement retailer’s stock worth $159,700,000 after buying an additional 458,472 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Lowe’s Companies, Inc. (NYSE:LOW) opened at 73.29 on Friday. The firm has a market cap of $63.75 billion, a P/E ratio of 26.91 and a beta of 1.28. The firm’s 50-day moving average price is $72.29 and its 200-day moving average price is $73.38. Lowe’s Companies, Inc. has a 1-year low of $62.62 and a 1-year high of $83.65.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by $0.08. The firm had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.86 billion. Lowe’s Companies had a return on equity of 46.46% and a net margin of 3.91%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 earnings per share. Equities research analysts anticipate that Lowe’s Companies, Inc. will post $3.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Stockholders of record on Wednesday, January 25th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 23rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.91%. Lowe’s Companies’s dividend payout ratio is currently 51.28%.

A number of brokerages have recently weighed in on LOW. Vetr lowered Lowe’s Companies from a “hold” rating to a “sell” rating and set a $72.58 target price on the stock. in a research note on Wednesday, December 7th. Royal Bank Of Canada increased their target price on Lowe’s Companies from $75.00 to $83.00 and gave the stock an “outperform” rating in a research note on Thursday, December 8th. RBC Capital Markets increased their target price on Lowe’s Companies from $75.00 to $83.00 and gave the stock an “outperform” rating in a research note on Thursday, December 8th. Zacks Investment Research upgraded Lowe’s Companies from a “sell” rating to a “hold” rating in a research note on Friday, December 9th. Finally, Citigroup Inc. lowered Lowe’s Companies from a “buy” rating to a “neutral” rating in a research note on Monday, December 19th. Thirteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $82.19.

In other news, insider Marshall A. Croom sold 6,300 shares of the stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $71.52, for a total transaction of $450,576.00. Following the completion of the sale, the insider now directly owns 40,602 shares in the company, valued at $2,903,855.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Ricky D. Damron sold 17,225 shares of the stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $74.83, for a total transaction of $1,288,946.75. Following the sale, the chief operating officer now owns 46,725 shares of the company’s stock, valued at $3,496,431.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,134 shares of company stock valued at $1,922,909. 0.39% of the stock is currently owned by company insiders.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

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