74,485 Shares in Lowe's Companies, Inc. (NYSE:LOW) Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP purchased a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 74,485 shares of the home improvement retailer's stock, valued at approximately $18,383,000.

Several other hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Lowe's Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer's stock valued at $6,774,948,000 after buying an additional 460,851 shares during the period. Geode Capital Management LLC increased its stake in shares of Lowe's Companies by 2.1% during the 4th 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 acquired a new position in Lowe's Companies in the 4th quarter valued at $1,842,954,000. Bank of New York Mellon Corp increased its holdings in 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 buying an additional 385,994 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Lowe's Companies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer's stock worth $853,697,000 after acquiring an additional 90,012 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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Lowe's Companies Stock Performance

NYSE:LOW traded up $0.53 during mid-day trading on Friday, hitting $223.05. The company had a trading volume of 4,829,634 shares, compared to its average volume of 2,435,897. The firm has a market cap of $124.84 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.96 and a beta of 1.12. The business's fifty day moving average is $242.39 and its two-hundred day moving average is $256.47. Lowe's Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. The business had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Equities analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.06%. Lowe's Companies's dividend payout ratio is 37.67%.

Analysts Set New Price Targets

LOW has been the topic of a number of analyst reports. Telsey Advisory Group restated an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a report on Wednesday, February 26th. StockNews.com lowered Lowe's Companies from a "buy" rating to a "hold" rating in a research note on Thursday. Piper Sandler decreased their price target 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. Truist Financial lowered their target price on shares of Lowe's Companies from $308.00 to $295.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, BNP Paribas raised Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Lowe's Companies has an average rating of "Moderate Buy" and a consensus target price of $280.35.

About Lowe's Companies

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.