Voleon Capital Management LP Invests $1.61 Million in Lowe's Companies, Inc. (NYSE:LOW)

Voleon Capital Management LP acquired a new position in 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 acquired 6,504 shares of the home improvement retailer's stock, valued at approximately $1,605,000.

Several other large investors have also recently made changes to their positions in the stock. IFS Advisors LLC purchased a new position in shares of Lowe's Companies during the fourth quarter worth $25,000. Winch Advisory Services LLC boosted its holdings in Lowe's Companies by 56.4% during the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer's stock valued at $30,000 after acquiring an additional 44 shares during the period. Marshall Investment Management LLC acquired a new position in Lowe's Companies in the 4th quarter valued at about $31,000. Caisse Des Depots ET Consignations acquired a new position in Lowe's Companies in the 4th quarter valued at about $33,000. Finally, Millstone Evans Group LLC purchased a new stake in Lowe's Companies during the fourth quarter worth about $44,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Stock Performance

NYSE LOW traded up $4.86 on Friday, reaching $227.18. The stock had a trading volume of 2,318,741 shares, compared to its average volume of 2,486,776. The stock has a market cap of $127.15 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The business's 50-day moving average price is $227.43 and its 200 day moving average price is $248.86.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. On average, sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio is currently 37.67%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LOW. Piper Sandler lowered their price objective on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a research report on Tuesday, April 15th. KeyCorp upgraded Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price for the company in a report on Friday, April 25th. StockNews.com raised Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada reduced their price target on Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Lowe's Companies presently has an average rating of "Moderate Buy" and an average target price of $278.21.

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.