GAMMA Investing LLC Has $386.54 Million Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

GAMMA Investing LLC lifted its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 26,796.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,657,332 shares of the home improvement retailer's stock after buying an additional 1,651,170 shares during the period. GAMMA Investing LLC owned about 0.30% of Lowe's Companies worth $386,540,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LOW. Brighton Jones LLC grew its position in Lowe's Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock worth $7,889,000 after acquiring an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Lowe's Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock worth $266,000 after acquiring an additional 259 shares during the last quarter. OLD National Bancorp IN grew its position in Lowe's Companies by 3.7% during the 4th quarter. OLD National Bancorp IN now owns 10,802 shares of the home improvement retailer's stock worth $2,666,000 after acquiring an additional 390 shares during the last quarter. Boomfish Wealth Group LLC boosted its position in Lowe's Companies by 0.6% in the 4th quarter. Boomfish Wealth Group LLC now owns 10,777 shares of the home improvement retailer's stock valued at $2,660,000 after buying an additional 62 shares during the last quarter. Finally, Sonora Investment Management Group LLC boosted its position in Lowe's Companies by 2.6% in the 4th quarter. Sonora Investment Management Group LLC now owns 2,118 shares of the home improvement retailer's stock valued at $523,000 after buying an additional 54 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe's Companies Price Performance

LOW traded up $0.85 during trading on Wednesday, hitting $229.65. The stock had a trading volume of 838,560 shares, compared to its average volume of 2,512,077. The firm has a market cap of $128.54 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 1.96 and a beta of 1.00. The company has a 50 day moving average price of $224.00 and a 200-day moving average price of $242.35. Lowe's Companies, Inc. has a one year low of $206.39 and a one year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. The business had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.06 earnings per share. As a group, sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Wednesday, July 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is 39.77%.

Analysts Set New Price Targets

A number of research analysts have commented on LOW shares. Piper Sandler decreased their price objective on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company dropped their price objective on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Wall Street Zen raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada cut their price objective on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $271.12.

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.