Lowe’s Companies, Inc. (LOW) Stake Raised by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 84,834 shares of the home improvement retailer’s stock after purchasing an additional 696 shares during the quarter. CIBC Asset Management Inc’s holdings in Lowe’s Companies were worth $6,577,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. SRS Capital Advisors Inc. raised its stake in shares of Lowe’s Companies by 0.4% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after purchasing an additional 5 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Lowe’s Companies in the 1st quarter valued at about $103,000. State of Alaska Department of Revenue acquired a new stake in shares of Lowe’s Companies in the 1st quarter valued at about $109,000. Hanson McClain Inc. raised its stake in shares of Lowe’s Companies by 3.5% in the 1st quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock valued at $110,000 after purchasing an additional 45 shares in the last quarter. Finally, First Bank & Trust raised its stake in shares of Lowe’s Companies by 11.5% in the 1st quarter. First Bank & Trust now owns 1,421 shares of the home improvement retailer’s stock valued at $117,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds own 74.32% of the company’s stock.

LOW has been the topic of a number of recent analyst reports. Bank of America Corporation initiated coverage on shares of Lowe’s Companies in a research note on Tuesday, September 5th. They issued a “buy” rating and a $95.00 target price on the stock. Zacks Investment Research lowered shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. Oppenheimer Holdings, Inc. set a $100.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, May 24th. Stifel Nicolaus restated a “buy” rating and issued a $87.00 target price on shares of Lowe’s Companies in a research note on Friday, July 21st. Finally, Jefferies Group LLC restated a “hold” rating and issued a $89.00 target price on shares of Lowe’s Companies in a research note on Friday, July 21st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $85.00.

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Lowe’s Companies, Inc. (LOW) opened at 78.66 on Wednesday. Lowe’s Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $86.25. The stock has a 50 day moving average of $75.92 and a 200 day moving average of $79.60. The company has a market capitalization of $65.84 billion, a PE ratio of 22.33 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.05). Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same period in the prior year, the firm posted $1.37 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. On average, equities research analysts predict that Lowe’s Companies, Inc. will post $4.49 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio is presently 46.20%.

Lowe’s Companies Profile

Lowe’s Companies, Inc (Lowe’s) is a FORTUNE home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.

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

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