Lowe’s Cos. (LOW) Shares Bought by Creative Planning
Creative Planning boosted its stake in shares of Lowe’s Cos. (NYSE:LOW) by 9.1% during the third quarter, Holdings Channel reports. The firm owned 91,893 shares of the home improvement retailer’s stock after buying an additional 7,639 shares during the period. Creative Planning’s holdings in Lowe’s Cos. were worth $6,636,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of LOW. CWM LLC raised its position in shares of Lowe’s Cos. by 0.3% in the second quarter. CWM LLC now owns 1,264 shares of the home improvement retailer’s stock valued at $100,000 after buying an additional 4 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Lowe’s Cos. during the second quarter worth about $103,000. Hanson McClain Inc. raised its stake in Lowe’s Cos. by 17.5% in the second quarter. Hanson McClain Inc. now owns 1,328 shares of the home improvement retailer’s stock worth $105,000 after buying an additional 198 shares during the period. North Star Investment Management Corp. raised its stake in Lowe’s Cos. by 20.0% in the third quarter. North Star Investment Management Corp. now owns 1,380 shares of the home improvement retailer’s stock worth $100,000 after buying an additional 230 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Lowe’s Cos. during the second quarter worth about $110,000. 73.83% of the stock is owned by institutional investors and hedge funds.
Shares of Lowe’s Cos. (NYSE:LOW) traded down 0.77% during trading on Tuesday, reaching $70.65. 3,809,559 shares of the company’s stock were exchanged. Lowe’s Cos. has a 52 week low of $62.62 and a 52 week high of $83.65. The firm has a market capitalization of $61.68 billion, a PE ratio of 25.94 and a beta of 1.25. The company’s 50-day moving average price is $69.10 and its 200 day moving average price is $75.55.
Lowe’s Cos. (NYSE:LOW) last released its earnings results on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.96 by $0.08. Lowe’s Cos. had a net margin of 3.91% and a return on equity of 46.46%. The business had revenue of $15.70 billion for the quarter, compared to the consensus estimate of $15.86 billion. During the same quarter in the previous year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts predict that Lowe’s Cos. will post $3.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Stockholders of record on Wednesday, January 25th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 23rd. This represents a $1.40 annualized dividend and a dividend yield of 1.97%. Lowe’s Cos.’s dividend payout ratio is currently 51.28%.
LOW has been the topic of a number of research reports. Credit Suisse Group AG set a $80.00 target price on shares of Lowe’s Cos. and gave the stock a “buy” rating in a report on Friday, September 23rd. Robert W. Baird set a $88.00 target price on shares of Lowe’s Cos. and gave the stock a “buy” rating in a report on Monday, September 19th. Morgan Stanley set a $87.00 target price on shares of Lowe’s Cos. and gave the stock a “buy” rating in a report on Friday, August 19th. Vetr lowered shares of Lowe’s Cos. from a “strong-buy” rating to a “buy” rating and set a $76.30 target price on the stock. in a report on Tuesday, October 18th. Finally, BTIG Research reiterated a “buy” rating on shares of Lowe’s Cos. in a report on Wednesday, November 16th. Thirteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $81.93.
Lowe’s Cos. Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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