Lowe's Companies, Inc. (NYSE:LOW) Holdings Cut by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,138,462 shares of the home improvement retailer's stock after selling 72,140 shares during the period. Alliancebernstein L.P. owned 0.20% of Lowe's Companies worth $280,972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Lowe's Companies by 1.9% during the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer's stock worth $6,774,948,000 after buying an additional 460,851 shares in the last quarter. Geode Capital Management LLC grew its stake in Lowe's Companies by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer's stock worth $3,169,041,000 after acquiring an additional 187,473 shares during the period. 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 lifted its stake in shares of Lowe's Companies by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer's stock worth $1,033,283,000 after purchasing an additional 385,994 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 90,012 shares during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.

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Lowe's Companies Stock Performance

Shares of LOW stock traded down $12.75 during mid-day trading on Thursday, reaching $222.53. 4,474,642 shares of the company were exchanged, compared to its average volume of 2,428,839. The company has a market capitalization of $124.55 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.96 and a beta of 1.12. The business's 50 day simple moving average is $243.94 and its 200 day simple moving average is $256.94. 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 issued its 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. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. On average, analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS 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. Investors of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio (DPR) is presently 37.67%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. StockNews.com lowered Lowe's Companies from a "buy" rating to a "hold" rating in a research report on Thursday. Piper Sandler reduced their target price on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Stifel Nicolaus upped their price target on Lowe's Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a research note on Wednesday, December 11th. Finally, Sanford C. Bernstein lifted their price objective on Lowe's Companies from $301.00 to $304.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.