South Street Advisors LLC Has $12.36 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

South Street Advisors LLC trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,624 shares of the home improvement retailer’s stock after selling 2,418 shares during the quarter. Lowe’s Companies makes up 1.9% of South Street Advisors LLC’s portfolio, making the stock its 25th biggest position. South Street Advisors LLC’s holdings in Lowe’s Companies were worth $12,357,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Stephens Consulting LLC grew its position in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares during the period. JNBA Financial Advisors grew its position in shares of Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 100 shares during the period. MFA Wealth Advisors LLC grew its position in shares of Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 70 shares during the period. Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the 2nd quarter worth about $37,000. Finally, Tsfg LLC grew its position in shares of Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after buying an additional 100 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LOW has been the subject of several analyst reports. Evercore ISI boosted their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 21st. Piper Sandler boosted their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Bank of America boosted their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Finally, Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.84.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Down 0.4 %

Shares of Lowe’s Companies stock traded down $0.95 on Friday, reaching $269.40. 2,264,979 shares of the company were exchanged, compared to its average volume of 2,439,940. Lowe’s Companies, Inc. has a one year low of $196.23 and a one year high of $287.01. The company has a market capitalization of $152.83 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 2.24 and a beta of 1.10. The company has a 50-day moving average of $267.19 and a 200 day moving average of $243.51.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the prior year, the business earned $4.56 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.71%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 38.14%.

Lowe’s Companies Company 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.