Montecito Bank & Trust Sells 167 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Montecito Bank & Trust lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,342 shares of the home improvement retailer’s stock after selling 167 shares during the quarter. Montecito Bank & Trust’s holdings in Lowe’s Companies were worth $1,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC boosted its holdings in Lowe’s Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares during the period. State Street Corp boosted its stake in shares of Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after purchasing an additional 460,851 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Lowe’s Companies by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after acquiring an additional 187,473 shares during the period. Legal & General Group Plc lifted its stake in shares of Lowe’s Companies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after purchasing an additional 82,978 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Lowe’s Companies by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after purchasing an additional 39,953 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $261.16 on Friday. The stock has a market capitalization of $147.47 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.16 and a beta of 1.11. The business has a fifty day moving average price of $259.44 and a 200-day moving average price of $255.60. Lowe’s Companies, Inc. has a 1-year low of $209.55 and a 1-year high of $287.01.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LOW shares. Evercore ISI lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Mizuho lifted their target price on shares of Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Barclays upped their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Wells Fargo & Company boosted their price target on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, Truist Financial cut their target price on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $280.85.

Insider Activity at Lowe’s Companies

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

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.