Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Pershing Square Capital Management L.P.

Pershing Square Capital Management L.P. lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 82.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,245,515 shares of the home improvement retailer’s stock after selling 5,821,108 shares during the period. Lowe’s Companies makes up approximately 2.7% of Pershing Square Capital Management L.P.’s portfolio, making the stock its 8th biggest holding. Pershing Square Capital Management L.P. owned about 0.22% of Lowe’s Companies worth $277,189,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LOW. Wetzel Investment Advisors Inc. acquired a new position in Lowe’s Companies during the 4th quarter valued at about $25,000. Orion Capital Management LLC bought a new position in shares of Lowe’s Companies during the 3rd quarter worth approximately $26,000. Tidemark LLC bought a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $27,000. VisionPoint Advisory Group LLC lifted its position in shares of Lowe’s Companies by 85.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares in the last quarter. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on LOW. Citigroup dropped their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Morgan Stanley lifted their target price on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Wells Fargo & Company lifted their price target on shares of Lowe’s Companies from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $246.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Finally, Stifel Nicolaus lifted their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $251.33.

Get Our Latest Stock Report on LOW

Lowe’s Companies Trading Up 3.1 %

Shares of Lowe’s Companies stock traded up $6.67 during trading on Wednesday, hitting $225.02. The stock had a trading volume of 3,580,108 shares, compared to its average volume of 2,457,420. The firm has a market cap of $128.23 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.67 and a beta of 1.08. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The business’s 50-day moving average is $228.06 and its 200 day moving average is $226.75.

Lowe’s Companies (NYSE:LOWGet Free Report) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.67 earnings per share. As a group, equities analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a yield of 0.27%. Lowe’s Companies’s dividend payout ratio is presently 35.34%.

Lowe’s Companies Profile

(Free Report)

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.

Further Reading

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

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