Focused Investors LLC Sells 4,000 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Focused Investors LLC cut its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 456,000 shares of the home improvement retailer's stock after selling 4,000 shares during the period. Lowe's Companies accounts for 3.6% of Focused Investors LLC's portfolio, making the stock its 15th largest holding. Focused Investors LLC owned 0.08% of Lowe's Companies worth $112,541,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC lifted its holdings in Lowe's Companies by 10.2% during the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer's stock valued at $7,045,006,000 after purchasing an additional 2,399,897 shares in the last quarter. State Street Corp lifted its stake in shares of Lowe's Companies by 1.9% during the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its holdings 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 buying an additional 187,473 shares during the period. Bank of New York Mellon Corp increased its stake 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 worth $1,033,283,000 after buying an additional 385,994 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Lowe's Companies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer's stock valued at $853,697,000 after acquiring 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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Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LOW shares. Piper Sandler dropped their price objective on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday. Guggenheim reaffirmed a "buy" rating and set a $300.00 price objective on shares of Lowe's Companies in a report on Thursday, December 12th. Bank of America lowered their target price on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Sanford C. Bernstein raised their target price on shares of Lowe's Companies from $301.00 to $304.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Finally, Evercore ISI boosted their price target on shares of Lowe's Companies from $270.00 to $290.00 and gave the stock an "in-line" rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and an average target price of $279.71.

Lowe's Companies Price Performance

Shares of LOW traded down $2.28 during mid-day trading on Tuesday, reaching $230.61. 2,339,254 shares of the company's stock traded hands, compared to its average volume of 2,279,546. Lowe's Companies, Inc. has a 12 month low of $211.80 and a 12 month high of $287.01. The stock has a market cap of $130.21 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.96 and a beta of 1.12. The stock's 50-day moving average is $247.67 and its two-hundred day moving average is $257.80.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.10. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Research analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.99%. Lowe's Companies's payout ratio is 37.67%.

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.