Adage Capital Partners GP L.L.C. Buys 112,795 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Adage Capital Partners GP L.L.C. boosted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 21.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 643,905 shares of the home improvement retailer's stock after acquiring an additional 112,795 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.11% of Lowe's Companies worth $158,916,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LOW. IFS Advisors LLC acquired a new position in Lowe's Companies during the 4th quarter valued at $25,000. Marshall Investment Management LLC bought a new stake in shares of Lowe's Companies during the fourth quarter valued at approximately $31,000. Winch Advisory Services LLC increased its stake in Lowe's Companies by 56.4% in the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer's stock valued at $30,000 after acquiring an additional 44 shares during the period. Caisse Des Depots ET Consignations bought a new stake in Lowe's Companies during the fourth quarter worth about $33,000. Finally, Millstone Evans Group LLC bought a new stake in Lowe's Companies during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on LOW shares. Royal Bank of Canada reduced their price target on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. DA Davidson reissued a "neutral" rating and issued a $270.00 price target on shares of Lowe's Companies in a research note on Wednesday, April 16th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $305.00 price target on shares of Lowe's Companies in a research note on Tuesday, April 15th. Truist Financial reduced their price objective on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Mizuho lowered their price target on Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Lowe's Companies currently has an average rating of "Moderate Buy" and an average target price of $278.21.

Lowe's Companies Price Performance

Shares of LOW traded down $0.90 during midday trading on Monday, hitting $220.01. 887,664 shares of the company traded hands, compared to its average volume of 2,471,374. Lowe's Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The firm has a market cap of $123.14 billion, a P/E ratio of 18.38, a PEG ratio of 1.96 and a beta of 1.07. The stock has a 50-day moving average of $229.29 and a 200-day moving average of $250.63.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. Sell-side analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's payout ratio is 37.67%.

Lowe's Companies Company Profile

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.