Sherbrooke Park Advisers LLC Invests $611,000 in Lowe's Companies, Inc. (NYSE:LOW)

Sherbrooke Park Advisers LLC purchased a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,475 shares of the home improvement retailer's stock, valued at approximately $611,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Lowe's Companies by 1.0% during the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock worth $6,483,558,000 after purchasing an additional 259,766 shares during the last quarter. Geode Capital Management LLC lifted its stake in Lowe's Companies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock worth $2,952,341,000 after purchasing an additional 245,876 shares during the last quarter. Norges Bank bought a new stake in shares of Lowe's Companies in the 4th quarter valued at about $1,842,954,000. Northern Trust Corp lifted its stake in shares of Lowe's Companies by 16.3% in 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 acquiring an additional 993,833 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Lowe's Companies by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer's stock valued at $1,033,283,000 after acquiring an additional 385,994 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Down 1.5%

Lowe's Companies stock traded down $3.57 on Tuesday, hitting $230.86. 3,456,128 shares of the stock traded hands, compared to its average volume of 2,515,575. Lowe's Companies, Inc. has a 1 year low of $206.39 and a 1 year high of $287.01. The firm has a market cap of $129.21 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. The business's fifty day simple moving average is $224.47 and its 200 day simple moving average is $245.52.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (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. As a group, analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Dividend Announcement

The firm also recently announced 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 1.99%. Lowe's Companies's payout ratio is 37.67%.

Analysts Set New Price Targets

LOW has been the subject of a number of recent research reports. KeyCorp raised Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price for the company in a research note on Friday, April 25th. BNP Paribas raised Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. Truist Financial lowered their target price on Lowe's Companies from $295.00 to $258.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research note on Tuesday, April 15th. Finally, StockNews.com raised Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $276.17.

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.