Brandywine Global Investment Management LLC Decreases Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Brandywine Global Investment Management LLC trimmed its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 459,640 shares of the home improvement retailer's stock after selling 35,570 shares during the period. Lowe's Companies makes up approximately 0.8% of Brandywine Global Investment Management LLC's portfolio, making the stock its 26th biggest holding. Brandywine Global Investment Management LLC owned approximately 0.08% of Lowe's Companies worth $113,439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp increased its holdings in shares of Lowe's Companies by 1.9% in the 3rd 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 during the last quarter. Geode Capital Management LLC increased its stake in Lowe's Companies by 1.6% in the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer's stock valued at $3,169,041,000 after acquiring an additional 187,473 shares during the last quarter. Norges Bank purchased a new stake in Lowe's Companies during the fourth quarter valued at about $1,842,954,000. Bank of New York Mellon Corp lifted its stake in Lowe's Companies by 10.2% during the fourth 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Lowe's Companies by 2.7% in 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 in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

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Lowe's Companies Price Performance

Shares of LOW stock traded up $0.49 during trading hours on Tuesday, reaching $233.72. 2,212,750 shares of the company traded hands, compared to its average volume of 2,421,822. Lowe's Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01. The company has a market cap of $130.82 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.96 and a beta of 1.12. The firm has a 50-day moving average price of $245.01 and a 200 day moving average price of $257.24.

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 for the quarter, topping 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 company had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Announces Dividend

The firm also recently announced 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 1.97%. 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

LOW has been the subject of a number of research reports. Piper Sandler cut 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. Royal Bank of Canada dropped 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. BNP Paribas upgraded Lowe's Companies to a "strong sell" rating in a report on Thursday, February 27th. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a report on Wednesday, February 26th. Finally, StockNews.com upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Lowe's Companies currently has an average rating of "Moderate Buy" and a consensus price target of $279.71.

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.