Today, Appleton Partners Inc. MA Increases Stake in Lowe’s Cos. (LOW)

Today, Appleton Partners Inc. MA Increases Stake in Lowe’s Cos. (LOW)
Appleton Partners Inc. MA boosted its position in Lowe’s Cos. (NYSE:LOW) by 129.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,995 shares of the home improvement retailer’s stock after buying an additional 3,386 shares during the period. Appleton Partners Inc. MA’s holdings in Lowe’s Cos. were worth $433,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI increased its position in Lowe’s Cos. by 76.9% in the second quarter. Zurich Insurance Group Ltd FI now owns 156,059 shares of the home improvement retailer’s stock worth $12,355,000 after buying an additional 67,826 shares during the period. Huntington National Bank increased its position in Lowe’s Cos. by 35.7% in the second quarter. Huntington National Bank now owns 355,482 shares of the home improvement retailer’s stock worth $28,144,000 after buying an additional 93,569 shares during the period. Cullen Frost Bankers Inc. increased its position in Lowe’s Cos. by 1.1% in the second quarter. Cullen Frost Bankers Inc. now owns 289,250 shares of the home improvement retailer’s stock worth $22,900,000 after buying an additional 3,232 shares during the period. BB&T Corp increased its position in Lowe’s Cos. by 16.3% in the second quarter. BB&T Corp now owns 180,176 shares of the home improvement retailer’s stock worth $14,265,000 after buying an additional 25,204 shares during the period. Finally, Ardevora Asset Management LLP increased its position in Lowe’s Cos. by 11.8% in the second quarter. Ardevora Asset Management LLP now owns 297,300 shares of the home improvement retailer’s stock worth $23,537,000 after buying an additional 31,400 shares during the period. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Shares of Lowe’s Cos. (NYSE:LOW) traded up 0.61% during mid-day trading on Friday, hitting $72.21. The company had a trading volume of 2,710,550 shares. Lowe’s Cos. has a 52-week low of $62.62 and a 52-week high of $83.65. The firm has a 50-day moving average price of $69.19 and a 200 day moving average price of $75.62. The firm has a market capitalization of $63.04 billion, a price-to-earnings ratio of 26.51 and a beta of 1.25.

Lowe’s Cos. (NYSE:LOW) last released its quarterly earnings data on Wednesday, November 16th. The home improvement retailer reported $0.88 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by $0.08. The business earned $15.70 billion during the quarter, compared to analyst estimates of $15.86 billion. Lowe’s Cos. had a net margin of 3.91% and a return on equity of 46.46%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 EPS. Analysts expect that Lowe’s Cos. will post $3.92 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Shareholders of record on Wednesday, January 25th will be issued a $0.35 dividend. The ex-dividend date is Monday, January 23rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.94%. Lowe’s Cos.’s payout ratio is 51.28%.

Several equities analysts recently weighed in on LOW shares. Vetr upgraded Lowe’s Cos. from a “hold” rating to a “buy” rating and set a $72.18 target price on the stock in a research report on Wednesday, November 16th. Peel Hunt reiterated a “buy” rating and set a $90.00 target price on shares of Lowe’s Cos. in a research report on Thursday, November 3rd. Cleveland Research downgraded Lowe’s Cos. from a “buy” rating to a “neutral” rating in a research report on Thursday, October 6th. Jefferies Group reiterated a “hold” rating on shares of Lowe’s Cos. in a research report on Monday, September 12th. Finally, Goldman Sachs Group Inc. downgraded Lowe’s Cos. from a “conviction-buy” rating to a “buy” rating and lowered their target price for the company from $95.00 to $86.00 in a research report on Monday, October 17th. Thirteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Lowe’s Cos. presently has a consensus rating of “Buy” and an average target price of $81.93.

About Lowe’s Cos.

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

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