Lowe’s Companies, Inc. (LOW) Shares Sold by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,377 shares of the home improvement retailer’s stock after selling 1,090 shares during the period. Lowe’s Companies accounts for approximately 1.6% of Stokes Capital Advisors LLC’s portfolio, making the stock its 20th largest position. Stokes Capital Advisors LLC’s holdings in Lowe’s Companies were worth $2,569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Magellan Asset Management Ltd lifted its holdings in shares of Lowe’s Companies by 0.3% during the second quarter. Magellan Asset Management Ltd now owns 20,201,275 shares of the home improvement retailer’s stock valued at $1,930,636,000 after purchasing an additional 51,787 shares during the last quarter. Ironsides Asset Advisors LLC lifted its holdings in shares of Lowe’s Companies by 698.3% during the second quarter. Ironsides Asset Advisors LLC now owns 8,327,089 shares of the home improvement retailer’s stock valued at $98,637,000 after purchasing an additional 7,284,000 shares during the last quarter. Boston Partners lifted its holdings in shares of Lowe’s Companies by 382.4% during the second quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock valued at $457,230,000 after purchasing an additional 3,792,479 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Lowe’s Companies by 1.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,423,886 shares of the home improvement retailer’s stock valued at $327,221,000 after purchasing an additional 61,681 shares during the last quarter. Finally, Winslow Capital Management LLC purchased a new position in shares of Lowe’s Companies during the second quarter valued at approximately $303,908,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

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NYSE:LOW traded up $2.53 during trading hours on Friday, reaching $106.76. The company had a trading volume of 56,416 shares, compared to its average volume of 5,800,882. The company has a current ratio of 1.06, a quick ratio of 0.25 and a debt-to-equity ratio of 2.58. Lowe’s Companies, Inc. has a 52 week low of $75.36 and a 52 week high of $117.70. The company has a market cap of $92.81 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.39.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The business had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.79 billion. During the same quarter in the previous year, the firm posted $1.57 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Research analysts forecast that Lowe’s Companies, Inc. will post 5.19 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Shareholders of record on Wednesday, October 24th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Tuesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.74%.

In other Lowe’s Companies news, CFO Marshall A. Croom sold 15,735 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total value of $1,803,388.35. Following the completion of the sale, the chief financial officer now owns 63,099 shares of the company’s stock, valued at approximately $7,231,776.39. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lisa W. Wardell bought 273 shares of the business’s stock in a transaction on Friday, August 24th. The stock was bought at an average cost of $107.72 per share, with a total value of $29,407.56. Following the transaction, the director now owns 273 shares in the company, valued at approximately $29,407.56. The disclosure for this purchase can be found here. Insiders own 0.30% of the company’s stock.

Several research firms have recently issued reports on LOW. Morgan Stanley lifted their target price on shares of Lowe’s Companies from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America set a $132.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Tuesday, October 2nd. Goldman Sachs Group set a $125.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Friday, September 28th. Telsey Advisory Group boosted their price objective on shares of Lowe’s Companies from $123.00 to $126.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Finally, SunTrust Banks upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, September 28th. Eight investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $112.30.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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