Bayesian Capital Management LP Lowers Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Bayesian Capital Management LP reduced its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 42.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,200 shares of the home improvement retailer's stock after selling 3,900 shares during the quarter. Bayesian Capital Management LP's holdings in Lowe's Companies were worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of LOW. FMR LLC lifted its stake in Lowe's Companies by 1.0% in the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock worth $6,483,558,000 after purchasing an additional 259,766 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Lowe's Companies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock worth $2,952,341,000 after purchasing an additional 245,876 shares during the last quarter. Norges Bank bought a new position in Lowe's Companies during the fourth quarter valued at approximately $1,842,954,000. Northern Trust Corp grew its holdings in Lowe's Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after buying an additional 993,833 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Lowe's Companies by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer's stock worth $1,033,283,000 after acquiring an additional 385,994 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Performance

NYSE:LOW opened at $227.18 on Monday. The firm has a 50-day simple moving average of $227.43 and a 200-day simple moving average of $248.63. 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 $127.15 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.96 and a beta of 1.07.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.10. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. On average, research analysts predict 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. Shareholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's payout ratio is 37.67%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LOW. Piper Sandler cut their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a report on Monday, March 24th. StockNews.com upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Truist Financial lowered their price target on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. BNP Paribas upgraded Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. Finally, Bank of America dropped their target price on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lowe's Companies currently has an average rating of "Moderate Buy" and a consensus target price of $278.21.

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.

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