Two Creeks Capital Management LP Cuts Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Two Creeks Capital Management LP cut its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 7.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 502,276 shares of the home improvement retailer's stock after selling 41,609 shares during the period. Lowe's Companies makes up about 7.6% of Two Creeks Capital Management LP's portfolio, making the stock its 3rd biggest holding. Two Creeks Capital Management LP owned approximately 0.09% of Lowe's Companies worth $123,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Lowe's Companies in the 4th quarter valued at $1,842,954,000. Raymond James Financial Inc. bought a new stake in shares of Lowe's Companies during the 4th quarter worth $314,435,000. Strategic Financial Concepts LLC lifted its position in shares of Lowe's Companies by 24,531.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer's stock worth $303,096,000 after buying an additional 1,223,116 shares during the last quarter. Amundi boosted its stake in Lowe's Companies by 60.1% in the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer's stock valued at $642,730,000 after buying an additional 976,823 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in Lowe's Companies by 42,529.8% in the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer's stock valued at $208,843,000 after acquiring an additional 844,217 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Trading Down 0.5 %

NYSE LOW traded down $1.10 during trading hours on Friday, hitting $220.95. 1,493,675 shares of the company's stock were exchanged, compared to its average volume of 2,475,648. The firm has a market cap of $123.67 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.96 and a beta of 1.07. The stock has a 50-day simple moving average of $229.29 and a 200 day simple moving average of $250.97. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01.

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

Lowe's Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a dividend yield of 2.08%. Lowe's Companies's dividend payout ratio is presently 37.67%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Mizuho reduced 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. Truist Financial decreased their target price on shares of Lowe's Companies from $295.00 to $258.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada lowered 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 report on Thursday, February 27th. Piper Sandler cut their price objective 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. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $278.21.

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.