OneDigital Investment Advisors LLC Reduces Stake in Lowe’s Companies, Inc. (NYSE:LOW)

OneDigital Investment Advisors LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 23.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,789 shares of the home improvement retailer’s stock after selling 3,322 shares during the period. OneDigital Investment Advisors LLC’s holdings in Lowe’s Companies were worth $2,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Lowe’s Companies by 1.0% during the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer’s stock worth $6,483,558,000 after purchasing an additional 259,766 shares during the last quarter. Geode Capital Management LLC increased its stake in Lowe’s Companies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer’s stock valued at $2,952,341,000 after buying an additional 245,876 shares during the period. Norges Bank purchased a new position in Lowe’s Companies during the 4th quarter worth $1,842,954,000. Bank of New York Mellon Corp lifted its stake in shares of Lowe’s Companies by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock worth $1,033,283,000 after acquiring an additional 385,994 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Lowe’s Companies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock valued at $853,697,000 after acquiring an additional 90,012 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $219.03 on Wednesday. The company has a market cap of $122.59 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. The company has a 50-day simple moving average of $231.16 and a 200-day simple moving average of $251.89. Lowe’s Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. On average, analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s payout ratio is 37.67%.

Analyst Ratings Changes

A number of brokerages recently commented on LOW. Truist Financial reduced their price objective on shares of Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Piper Sandler reduced their price target on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a report on Monday, March 24th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Tuesday, April 15th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a report on Tuesday, April 15th. Finally, Bank of America cut their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $278.74.

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.