Geode Capital Management LLC Has $2.95 Billion Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Geode Capital Management LLC lifted its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,979,337 shares of the home improvement retailer's stock after purchasing an additional 245,876 shares during the quarter. Geode Capital Management LLC owned 2.12% of Lowe's Companies worth $2,952,341,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Lowe's Companies by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer's stock worth $175,944,000 after buying an additional 24,812 shares during the period. Miracle Mile Advisors LLC raised its holdings in shares of Lowe's Companies by 288.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer's stock worth $4,696,000 after acquiring an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Lowe's Companies by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer's stock valued at $98,104,000 after acquiring an additional 4,435 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Lowe's Companies by 2.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer's stock worth $4,894,000 after purchasing an additional 501 shares during the period. Finally, Great Lakes Advisors LLC increased its holdings in Lowe's Companies by 1.5% during the 4th quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer's stock worth $116,696,000 after purchasing an additional 7,187 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

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Lowe's Companies Stock Performance

NYSE:LOW traded down $12.75 during mid-day trading on Thursday, hitting $222.53. 4,474,642 shares of the stock were exchanged, compared to its average volume of 2,428,840. The firm'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. The stock has a market capitalization of $124.55 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced 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. 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 analysts' expectations of $18.29 billion. On average, analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 37.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their price target on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Bank of America lowered their price objective 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. BNP Paribas upgraded shares of Lowe's Companies to a "strong sell" rating in a report on Thursday, February 27th. Finally, Mizuho lowered their price target on shares of Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $280.35.

Lowe's Companies Company 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.