Alkeon Capital Management LLC Boosts Stock Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Alkeon Capital Management LLC raised its stake in Lowe's Companies by 44.4%, owning a total of 648,594 shares worth approximately $151.27 million.
• Lowe's reported $4.33 EPS for the latest quarter, exceeding analyst expectations of $4.24, with a revenue of $23.96 billion.
• Wells Fargo raised its target price for Lowe's from $260 to $300, reflecting a positive outlook with a consensus price target of $284.13 from 26 analysts.

Alkeon Capital Management LLC increased its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 44.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 648,594 shares of the home improvement retailer's stock after acquiring an additional 199,516 shares during the period. Alkeon Capital Management LLC owned about 0.12% of Lowe's Companies worth $151,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOW. Rench Wealth Management Inc. grew its holdings in shares of Lowe's Companies by 1.9% during the first quarter. Rench Wealth Management Inc. now owns 19,256 shares of the home improvement retailer's stock worth $4,491,000 after purchasing an additional 363 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in Lowe's Companies by 15.0% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 22,871 shares of the home improvement retailer's stock valued at $5,335,000 after buying an additional 2,978 shares during the last quarter. First Manhattan CO. LLC. boosted its position in Lowe's Companies by 0.6% during the 1st quarter. First Manhattan CO. LLC. now owns 1,407,893 shares of the home improvement retailer's stock worth $328,363,000 after buying an additional 8,436 shares during the period. GW Henssler & Associates Ltd. bought a new stake in Lowe's Companies during the 1st quarter worth approximately $310,000. Finally, One Wealth Capital Management LLC grew its holdings in Lowe's Companies by 11.2% during the 1st quarter. One Wealth Capital Management LLC now owns 1,531 shares of the home improvement retailer's stock worth $357,000 after acquiring an additional 154 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Insider Buying and Selling at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 929 shares of Lowe's Companies stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total value of $238,938.80. Following the completion of the sale, the executive vice president owned 30,099 shares of the company's stock, valued at approximately $7,741,462.80. This trade represents a 2.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of Lowe's Companies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the completion of the sale, the chief executive officer directly owned 249,043 shares of the company's stock, valued at approximately $65,772,256.30. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

Lowe's Companies Stock Performance

Shares of NYSE LOW traded up $5.43 during trading on Friday, hitting $270.00. 4,488,216 shares of the company traded hands, compared to its average volume of 2,892,729. The business's fifty day moving average is $237.93 and its 200 day moving average is $230.72. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The firm has a market capitalization of $151.42 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 2.45 and a beta of 0.87.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.09. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The firm had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the prior year, the business earned $4.10 earnings per share. The business's quarterly revenue was up 1.6% compared to the same quarter last year. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be issued a dividend of $0.012 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $0.05 annualized dividend and a dividend yield of 0.0%. Lowe's Companies's dividend payout ratio is currently 39.44%.

Analysts Set New Price Targets

LOW has been the topic of a number of recent research reports. Truist Financial lifted their price target on shares of Lowe's Companies from $264.00 to $283.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Barclays set a $267.00 target price on Lowe's Companies in a research report on Thursday, August 21st. Mizuho upped their price target on Lowe's Companies from $280.00 to $285.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Piper Sandler raised their price objective on Lowe's Companies from $269.00 to $294.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Finally, Citigroup cut their price objective on Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Sixteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $284.13.

Lowe's Companies 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.