Korea Investment CORP Has $90.04 Million Stock Position in Lowe's Companies, Inc. $LOW

Key Points

• Korea Investment CORP increased its stake in Lowe's Companies by 1.5%, owning 386,048 shares valued at approximately $90.04 million.
• Recent hedge fund activities showed significant acquisitions, with Pacer Advisors raising its holdings by 2,984.6% during the 1st quarter, buying an additional 1,971,996 shares.
• Lowe's Companies declared a quarterly dividend of $1.20, reflecting an increase from the previous dividend of $1.15 and providing a yield of 1.9%.

Korea Investment CORP boosted its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 386,048 shares of the home improvement retailer's stock after buying an additional 5,824 shares during the period. Korea Investment CORP owned approximately 0.07% of Lowe's Companies worth $90,038,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of LOW. Nuveen LLC acquired a new stake in Lowe's Companies during the 1st quarter worth approximately $681,215,000. Pacer Advisors Inc. raised its holdings in Lowe's Companies by 2,984.6% during the 1st quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer's stock worth $475,339,000 after buying an additional 1,971,996 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in Lowe's Companies by 350.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer's stock worth $585,770,000 after buying an additional 1,846,315 shares during the period. GAMMA Investing LLC raised its holdings in Lowe's Companies by 26,796.0% during the 1st quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer's stock worth $386,540,000 after buying an additional 1,651,170 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Lowe's Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after purchasing an additional 993,833 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LOW has been the topic of a number of recent research reports. Stifel Nicolaus lowered their price objective on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. Gordon Haskett upgraded shares of Lowe's Companies to a "hold" rating in a report on Wednesday, August 13th. DA Davidson lowered their price objective on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Royal Bank Of Canada lowered 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. Finally, Sanford C. Bernstein set a $266.00 price objective on shares of Lowe's Companies and gave the company an "outperform" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $270.68.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the transaction, the executive vice president owned 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by company insiders.

Lowe's Companies Stock Performance

LOW opened at $251.86 on Monday. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The company has a market capitalization of $141.15 billion, a P/E ratio of 20.87, a P/E/G ratio of 2.38 and a beta of 0.89. The stock has a fifty day moving average of $226.61 and a 200-day moving average of $230.05.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter last year, the firm earned $3.06 earnings per share. The company's revenue was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Wednesday, July 23rd. Lowe's Companies's payout ratio is presently 39.77%.

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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