Sandy Spring Bank Has $13.06 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Sandy Spring Bank lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,697 shares of the home improvement retailer’s stock after selling 1,040 shares during the quarter. Sandy Spring Bank’s holdings in Lowe’s Companies were worth $13,063,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Financial Counselors Inc. boosted its holdings in Lowe’s Companies by 0.6% during the 4th quarter. Financial Counselors Inc. now owns 46,798 shares of the home improvement retailer’s stock worth $10,415,000 after acquiring an additional 278 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in Lowe’s Companies by 3.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 10,298 shares of the home improvement retailer’s stock worth $2,292,000 after acquiring an additional 370 shares during the last quarter. Leeward Financial Partners LLC purchased a new position in Lowe’s Companies during the 4th quarter worth $345,000. S.E.E.D. Planning Group LLC boosted its holdings in Lowe’s Companies by 11.9% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 8,479 shares of the home improvement retailer’s stock worth $1,887,000 after acquiring an additional 899 shares during the last quarter. Finally, Harbour Trust & Investment Management Co purchased a new position in Lowe’s Companies during the 4th quarter worth $5,890,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $235.35 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The stock has a 50 day moving average price of $238.46 and a two-hundred day moving average price of $217.73. The company has a market capitalization of $134.66 billion, a P/E ratio of 17.88, a PEG ratio of 1.75 and a beta of 1.13.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. The company had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 earnings per share. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.87%. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

Analyst Ratings Changes

LOW has been the topic of a number of recent analyst reports. Mizuho initiated coverage on Lowe’s Companies in a research note on Tuesday, March 19th. They set a “buy” rating and a $280.00 target price on the stock. Truist Financial boosted their price objective on Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Zelman & Associates restated a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. The Goldman Sachs Group lifted their target price on Lowe’s Companies from $238.00 to $262.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, Barclays lifted their target price on Lowe’s Companies from $203.00 to $229.00 and gave the company an “equal weight” rating in a report on Thursday, January 4th. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $252.33.

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.