Oak Asset Management LLC Has $5.36 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Oak Asset Management LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,698 shares of the home improvement retailer’s stock after selling 104 shares during the period. Lowe’s Companies makes up 2.0% of Oak Asset Management LLC’s portfolio, making the stock its 12th biggest position. Oak Asset Management LLC’s holdings in Lowe’s Companies were worth $5,355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Crew Capital Management Ltd. raised its holdings in shares of Lowe’s Companies by 1.0% in the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after buying an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC raised its stake in Lowe’s Companies by 2.8% during the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after acquiring an additional 37 shares in the last quarter. Clean Yield Group raised its stake in Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after acquiring an additional 38 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of Lowe’s Companies by 0.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after acquiring an additional 40 shares during the period. Finally, Chapin Davis Inc. boosted its stake in shares of Lowe’s Companies by 1.3% in the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total value of $1,974,915.26. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LOW shares. Wedbush reiterated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. Bank of America lifted their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Piper Sandler increased their price target on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Sanford C. Bernstein lifted their price objective on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Stock Performance

Shares of LOW opened at $248.64 on Tuesday. The firm has a market cap of $140.39 billion, a P/E ratio of 20.74, a PEG ratio of 2.20 and a beta of 1.11. Lowe’s Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01. The firm’s 50 day moving average price is $260.90 and its two-hundred day moving average price is $253.71.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 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.