Alkeon Capital Management LLC Sells 180,000 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Alkeon Capital Management reduced its Lowe’s stake by 27.8% in the fourth quarter, selling 180,000 shares and leaving it with 468,594 shares valued at about $113 million.
• Lowe’s recently reported better-than-expected quarterly results, with EPS of $3.03 versus the $2.97 consensus and revenue of $23.08 billion, up 10.3% year over year.
• The company also raised its quarterly dividend to $1.25 per share, while analysts currently hold a consensus rating of “Moderate Buy” with an average price target of $264.57.

Alkeon Capital Management LLC trimmed its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 27.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 468,594 shares of the home improvement retailer's stock after selling 180,000 shares during the quarter. Alkeon Capital Management LLC owned about 0.08% of Lowe's Companies worth $113,006,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Natixis Advisors LLC increased its holdings in shares of Lowe's Companies by 3.5% in the fourth quarter. Natixis Advisors LLC now owns 630,956 shares of the home improvement retailer's stock worth $152,161,000 after purchasing an additional 21,119 shares during the last quarter. Bridges Investment Management Inc. increased its holdings in shares of Lowe's Companies by 6.1% in the fourth quarter. Bridges Investment Management Inc. now owns 446,441 shares of the home improvement retailer's stock worth $107,664,000 after purchasing an additional 25,609 shares during the last quarter. Glenview Trust Co increased its holdings in shares of Lowe's Companies by 9.0% in the fourth quarter. Glenview Trust Co now owns 207,797 shares of the home improvement retailer's stock worth $50,112,000 after purchasing an additional 17,225 shares during the last quarter. LPL Financial LLC grew its position in Lowe's Companies by 2.3% in the fourth quarter. LPL Financial LLC now owns 993,332 shares of the home improvement retailer's stock worth $239,552,000 after acquiring an additional 22,175 shares in the last quarter. Finally, Jefferies Financial Group Inc. grew its position in Lowe's Companies by 134.3% in the third quarter. Jefferies Financial Group Inc. now owns 56,252 shares of the home improvement retailer's stock worth $14,137,000 after acquiring an additional 32,240 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. BNP Paribas Exane dropped their price target on Lowe's Companies from $228.00 to $202.00 and set an "underperform" rating for the company in a research report on Thursday, May 21st. Rothschild & Co Redburn lifted their price target on Lowe's Companies from $280.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Wells Fargo & Company dropped their price target on Lowe's Companies from $260.00 to $255.00 and set an "overweight" rating for the company in a research report on Thursday, May 21st. Sanford C. Bernstein dropped their price target on Lowe's Companies from $303.00 to $281.00 and set an "outperform" rating for the company in a research report on Thursday, May 14th. Finally, Argus lifted their price target on Lowe's Companies from $286.00 to $288.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Twenty-three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $264.57.

Lowe's Companies Trading Down 0.2%

LOW opened at $220.29 on Tuesday. The firm has a market cap of $123.52 billion, a P/E ratio of 18.62, a P/E/G ratio of 2.79 and a beta of 0.87. Lowe's Companies, Inc. has a 12 month low of $203.40 and a 12 month high of $293.06. The stock has a 50-day moving average of $228.16 and a 200 day moving average of $246.14.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, May 20th. The home improvement retailer reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.06. Lowe's Companies had a negative return on equity of 67.96% and a net margin of 7.51%.The business had revenue of $23.08 billion during the quarter, compared to analyst estimates of $22.98 billion. During the same quarter in the previous year, the business earned $2.92 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. Lowe's Companies has set its FY 2026 guidance at 12.250-12.750 EPS. On average, research analysts forecast that Lowe's Companies, Inc. will post 12.48 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The firm 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. This represents a $5.00 annualized dividend and a dividend yield of 2.3%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.20. The ex-dividend date is Wednesday, July 22nd. Lowe's Companies's dividend payout ratio (DPR) is presently 40.57%.

About Lowe's Companies

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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