Woodline Partners LP Makes New Investment in Lowe's Companies, Inc. (NYSE:LOW)

Woodline Partners LP acquired a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,068 shares of the home improvement retailer's stock, valued at approximately $8,408,000.

A number of other large investors also recently modified their holdings of the business. Vestment Financial LLC acquired a new position in shares of Lowe's Companies during the 4th quarter worth about $984,000. Vident Advisory LLC boosted its stake in shares of Lowe's Companies by 239.9% during the 4th quarter. Vident Advisory LLC now owns 68,079 shares of the home improvement retailer's stock worth $16,804,000 after buying an additional 48,047 shares during the last quarter. Vivaldi Capital Management LP acquired a new position in shares of Lowe's Companies during the 4th quarter worth about $261,000. St. Clair Advisors LLC acquired a new position in shares of Lowe's Companies during the 4th quarter worth about $1,394,000. Finally, Twinbeech Capital LP bought a new stake in shares of Lowe's Companies in the 4th quarter valued at about $14,130,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Stock Performance

Lowe's Companies stock traded down $0.25 during mid-day trading on Wednesday, reaching $225.56. 636,480 shares of the company were exchanged, compared to its average volume of 2,625,331. The business has a fifty day moving average of $224.51 and a 200 day moving average of $243.93. The firm has a market cap of $126.25 billion, a P/E ratio of 18.81, a PEG ratio of 1.96 and a beta of 1.00. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01.

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. The company had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Lowe's Companies's revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.06 earnings per share. Sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.04%. Lowe's Companies's dividend payout ratio is presently 38.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LOW shares. Royal Bank of Canada cut their price target 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. Morgan Stanley decreased their target price on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Sanford C. Bernstein set a $266.00 price objective on Lowe's Companies and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Wells Fargo & Company dropped their target price 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. Finally, Truist Financial set a $264.00 price objective on Lowe's Companies and gave the stock a "buy" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $271.12.

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.