Independence Bank of Kentucky Has $3.33 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Independence Bank of Kentucky boosted its stake in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 13.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,941 shares of the home improvement retailer’s stock after purchasing an additional 1,799 shares during the quarter. Lowe’s Companies comprises about 1.2% of Independence Bank of Kentucky’s holdings, making the stock its 16th biggest position. Independence Bank of Kentucky’s holdings in Lowe’s Companies were worth $3,325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. DAVENPORT & Co LLC grew its holdings in Lowe’s Companies by 18.7% in the fourth quarter. DAVENPORT & Co LLC now owns 584,296 shares of the home improvement retailer’s stock worth $130,075,000 after purchasing an additional 91,987 shares during the period. Colonial River Wealth Management LLC bought a new position in shares of Lowe’s Companies in the fourth quarter valued at $206,000. Founders Capital Management LLC lifted its stake in shares of Lowe’s Companies by 36.2% in the fourth quarter. Founders Capital Management LLC now owns 24,630 shares of the home improvement retailer’s stock valued at $5,481,000 after buying an additional 6,551 shares in the last quarter. Physician Wealth Advisors Inc. bought a new position in shares of Lowe’s Companies in the fourth quarter valued at $213,000. Finally, Stonegate Investment Group LLC lifted its stake in shares of Lowe’s Companies by 0.5% in the fourth quarter. Stonegate Investment Group LLC now owns 10,338 shares of the home improvement retailer’s stock valued at $2,301,000 after buying an additional 52 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Down 1.5 %

LOW opened at $240.71 on Thursday. The company has a market capitalization of $137.73 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.81 and a beta of 1.13. The firm has a 50-day moving average price of $235.39 and a 200-day moving average price of $216.70. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOWGet Free Report) last posted its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.09. The firm had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company’s revenue was down 17.1% on a year-over-year basis. During the same quarter last year, the company earned $2.28 earnings per share. On average, sell-side analysts expect that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.43%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LOW shares. Stifel Nicolaus dropped their price objective on shares of Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Truist Financial raised their price objective on shares of Lowe’s Companies from $258.00 to $271.00 and gave the company a “buy” rating in a research note on Tuesday. Piper Sandler raised their price objective on shares of Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Zelman & Associates reaffirmed a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday. Finally, Robert W. Baird raised shares of Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price target on the stock in a research report on Wednesday, February 14th. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $252.33.

Check Out Our Latest Analysis on LOW

Lowe’s Companies Profile

(Free Report)

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, d├ęcor, and electrical.

Further Reading

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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