Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,031 shares of the home improvement retailer’s stock after selling 304 shares during the period. Lowe’s Companies makes up 0.8% of Cravens & Co Advisors LLC’s investment portfolio, making the stock its 24th largest position. Cravens & Co Advisors LLC’s holdings in Lowe’s Companies were worth $1,092,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LOW. FMR LLC raised its holdings in shares of Lowe’s Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after buying an additional 2,399,897 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after purchasing an additional 2,027,668 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after buying an additional 1,199,100 shares in the last quarter. Applied Finance Capital Management LLC boosted its position in Lowe’s Companies by 387.7% in the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after buying an additional 645,017 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Lowe’s Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after acquiring an additional 463,645 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Lowe’s Companies Trading Down 0.3 %

NYSE:LOW opened at $274.48 on Wednesday. The stock’s 50 day simple moving average is $269.47 and its 200-day simple moving average is $245.47. Lowe’s Companies, Inc. has a 12-month low of $196.32 and a 12-month high of $287.01. The firm has a market cap of $155.71 billion, a P/E ratio of 22.89, a PEG ratio of 2.31 and a beta of 1.10.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is 38.37%.

Analysts Set New Price Targets

A number of research firms have issued reports on LOW. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price target for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Bank of America raised their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Evercore ISI boosted their price target on shares of Lowe’s Companies from $255.00 to $270.00 and gave the stock an “in-line” rating in a report on Wednesday, November 20th. TD Cowen increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Finally, Truist Financial lifted their price objective on shares of Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $277.92.

About Lowe’s Companies

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.