Capricorn Fund Managers Ltd purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 3,500 shares of the home improvement retailer’s stock, valued at approximately $827,000.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Lowe’s Companies by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 56,230,787 shares of the home improvement retailer’s stock valued at $13,560,617,000 after purchasing an additional 924,625 shares during the last quarter. State Street Corp raised its holdings in Lowe’s Companies by 0.5% in the third quarter. State Street Corp now owns 25,036,276 shares of the home improvement retailer’s stock worth $6,291,867,000 after purchasing an additional 124,501 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lowe’s Companies by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 13,326,581 shares of the home improvement retailer’s stock valued at $3,201,329,000 after buying an additional 887,579 shares during the last quarter. Norges Bank purchased a new stake in shares of Lowe’s Companies during the fourth quarter valued at about $1,993,697,000. Finally, Northern Trust Corp lifted its position in shares of Lowe’s Companies by 1.5% during the third quarter. Northern Trust Corp now owns 6,830,080 shares of the home improvement retailer’s stock valued at $1,716,467,000 after buying an additional 103,827 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.
Lowe’s Companies Stock Performance
Shares of NYSE LOW opened at $220.37 on Wednesday. Lowe’s Companies, Inc. has a fifty-two week low of $203.40 and a fifty-two week high of $293.06. The company has a market cap of $123.56 billion, a PE ratio of 18.63, a P/E/G ratio of 2.77 and a beta of 0.87. The business has a 50-day simple moving average of $223.18 and a two-hundred day simple moving average of $244.22.
Lowe’s Companies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Wednesday, July 22nd will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $5.00 annualized dividend and a yield of 2.3%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.20. Lowe’s Companies’s payout ratio is presently 42.27%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. BNP Paribas Exane cut their price objective on shares of Lowe’s Companies from $228.00 to $202.00 and set an “underperform” rating on the stock in a research report on Thursday, May 21st. Gordon Haskett decreased their target price on shares of Lowe’s Companies from $280.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. JPMorgan Chase & Co. decreased their target price on shares of Lowe’s Companies from $325.00 to $279.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Telsey Advisory Group lowered their target price on shares of Lowe’s Companies from $295.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday, May 21st. Finally, Robert W. Baird cut their price target on shares of Lowe’s Companies from $320.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Twenty-three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $264.57.
View Our Latest Stock Report on Lowe’s Companies
Insider Buying and Selling at Lowe’s Companies
In other news, EVP Janice Dupre sold 14,150 shares of Lowe’s Companies stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $221.90, for a total transaction of $3,139,885.00. Following the completion of the sale, the executive vice president directly owned 39,785 shares in the company, valued at approximately $8,828,291.50. The trade was a 26.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Juliette Williams Pryor sold 9,330 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $224.81, for a total transaction of $2,097,477.30. Following the sale, the executive vice president directly owned 16,142 shares in the company, valued at $3,628,883.02. This trade represents a 36.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 25,980 shares of company stock worth $5,796,937. 0.29% of the stock is owned by corporate insiders.
Lowe’s Companies Company Profile
Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.
Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.
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