Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by First Pacific Financial

First Pacific Financial raised its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 952.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,105 shares of the home improvement retailer’s stock after acquiring an additional 1,000 shares during the period. First Pacific Financial’s holdings in Lowe’s Companies were worth $273,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. StoneX Group Inc. purchased a new stake in Lowe’s Companies during the third quarter worth about $2,713,000. Principal Financial Group Inc. increased its stake in Lowe’s Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after buying an additional 24,812 shares during the period. Miracle Mile Advisors LLC lifted its holdings in Lowe’s Companies by 288.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after buying an additional 14,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Lowe’s Companies by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after buying an additional 4,435 shares during the period. Finally, HM Payson & Co. boosted its position in Lowe’s Companies by 1.1% in the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after buying an additional 2,322 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Transactions at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on LOW. Barclays upped their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein upped their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Evercore ISI lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Wedbush reiterated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, Piper Sandler lifted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Eleven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $280.85.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $258.70 on Friday. The stock has a market capitalization of $146.07 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. The business has a 50 day simple moving average of $260.44 and a 200-day simple moving average of $253.95. Lowe’s Companies, Inc. has a 12 month low of $209.55 and a 12 month high of $287.01.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.78%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

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.