Raiffeisen Bank International AG Makes New $8.36 Million Investment in Lowe's Companies, Inc. (NYSE:LOW)

Raiffeisen Bank International AG bought a new stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,875 shares of the home improvement retailer's stock, valued at approximately $8,358,000.

Several other hedge funds also recently added to or reduced their stakes in LOW. Norges Bank bought a new position in Lowe's Companies during the 4th quarter valued at about $1,842,954,000. Kovitz Investment Group Partners LLC grew 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 valued at $585,770,000 after purchasing an additional 1,846,315 shares during the last quarter. Raymond James Financial Inc. bought a new position in Lowe's Companies during the 4th quarter valued at about $314,435,000. Strategic Financial Concepts LLC grew its holdings in Lowe's Companies by 24,531.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock valued at $303,096,000 after purchasing an additional 1,223,116 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Lowe's Companies by 16.3% during the 4th 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.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LOW shares. Stifel Nicolaus cut their price target on shares of Lowe's Companies from $270.00 to $250.00 and set a "hold" rating on the stock in a report on Monday. Bank of America dropped their target price on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Citigroup restated a "neutral" rating and issued a $253.00 target price (down from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. Wells Fargo & Company dropped their target price on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Piper Sandler dropped their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $276.17.

Lowe's Companies Stock Performance

NYSE:LOW traded up $0.21 during midday trading on Monday, reaching $234.44. 3,385,106 shares of the stock traded hands, compared to its average volume of 2,512,475. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The business has a 50-day moving average of $224.34 and a two-hundred day moving average of $245.71. The stock has a market capitalization of $131.22 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.10. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $18.55 billion during the quarter, compared to analysts' expectations of $18.29 billion. Research analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were issued a $1.15 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.96%. Lowe's Companies's dividend payout ratio is currently 37.67%.

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.