Johnson Financial Group Inc. Has $1.07 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Johnson Financial Group Inc. cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 9.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,086 shares of the home improvement retailer’s stock after selling 435 shares during the quarter. Johnson Financial Group Inc.’s holdings in Lowe’s Companies were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LOW. Norges Bank bought a new stake in shares of Lowe’s Companies during the fourth quarter worth $1,842,954,000. Kovitz Investment Group Partners LLC grew its position in Lowe’s Companies by 350.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock worth $585,770,000 after acquiring an additional 1,846,315 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Lowe’s Companies in the 4th quarter worth about $314,435,000. Strategic Financial Concepts LLC increased its holdings in Lowe’s Companies by 24,531.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock worth $303,096,000 after purchasing an additional 1,223,116 shares in the last quarter. Finally, Amundi raised its position in Lowe’s Companies by 60.1% in the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock valued at $642,730,000 after purchasing an additional 976,823 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Shares of LOW opened at $220.95 on Friday. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The stock has a 50-day moving average of $229.29 and a 200-day moving average of $250.79. The company has a market cap of $123.67 billion, a PE ratio of 18.43, a P/E/G ratio of 1.96 and a beta of 1.07.

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

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s payout ratio is presently 37.67%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Mizuho lowered their price objective on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Piper Sandler decreased their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. KeyCorp raised shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price objective on the stock in a research note on Friday. Royal Bank of Canada decreased their price objective on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Finally, Bank of America cut their target price on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.21.

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.