Lowe's Companies, Inc. (NYSE:LOW) Shares Sold by Two Creeks Capital Management LP

Two Creeks Capital Management LP decreased its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 comprises about 7.6% of Two Creeks Capital Management LP's investment portfolio, making the stock its 3rd biggest holding. Two Creeks Capital Management LP owned 0.09% of Lowe's Companies worth $123,962,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of 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 valued at $175,944,000 after purchasing an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC grew its position in 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 valued at $4,696,000 after buying an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Lowe's Companies by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer's stock valued at $98,104,000 after buying an additional 4,435 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in Lowe's Companies by 2.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer's stock worth $4,894,000 after acquiring an additional 501 shares during the period. Finally, World Investment Advisors boosted its stake in shares of Lowe's Companies by 11.0% during the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock worth $6,498,000 after acquiring an additional 2,615 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Performance

NYSE LOW traded down $1.10 on Friday, reaching $220.95. The stock had a trading volume of 1,493,675 shares, compared to its average volume of 2,475,650. The stock has a market cap of $123.67 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01. The business's 50-day moving average price is $229.29 and its 200 day moving average price is $250.97.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $18.55 billion for the quarter, compared to analysts' expectations of $18.29 billion. On average, sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given 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 2.08%. Lowe's Companies's payout ratio is 37.67%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Piper Sandler reduced their price target on Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Bank of America reduced their target price on shares of Lowe's Companies from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a report on Tuesday, April 15th. BNP Paribas raised shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. Finally, KeyCorp upgraded shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $278.21.

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.