Callahan Advisors LLC Cuts Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Callahan Advisors LLC reduced its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,198 shares of the home improvement retailer's stock after selling 1,442 shares during the period. Lowe's Companies accounts for about 1.5% of Callahan Advisors LLC's holdings, making the stock its 21st biggest holding. Callahan Advisors LLC's holdings in Lowe's Companies were worth $15,844,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its stake 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 worth $7,045,006,000 after buying an additional 2,399,897 shares during the period. State Street Corp boosted its stake in Lowe's Companies by 1.9% during the third 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 period. Geode Capital Management LLC boosted its stake in Lowe's Companies by 1.6% during the third 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. Charles Schwab Investment Management Inc. boosted its stake in Lowe's Companies by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer's stock worth $912,508,000 after buying an additional 39,953 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its stake in Lowe's Companies by 1.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer's stock worth $634,700,000 after buying an additional 36,054 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays raised their price objective on shares of Lowe's Companies from $229.00 to $245.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 20th. Wedbush reissued a "neutral" rating and issued a $250.00 price objective on shares of Lowe's Companies in a research note on Thursday, December 12th. Evercore ISI raised their price objective on shares of Lowe's Companies from $270.00 to $290.00 and gave the company an "in-line" rating in a research note on Thursday, December 12th. Mizuho raised their price objective on shares of Lowe's Companies from $282.00 to $305.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Finally, Stifel Nicolaus raised their price objective on shares of Lowe's Companies from $265.00 to $270.00 and gave the company a "hold" rating in a research note on Wednesday, December 11th. Ten equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $282.96.

Insider Activity

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe's Companies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the transaction, the executive vice president now directly owns 16,703 shares of the company's stock, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company's stock.

Lowe's Companies Stock Performance

LOW stock traded down $7.49 during midday trading on Friday, reaching $238.93. 3,164,519 shares of the company were exchanged, compared to its average volume of 2,187,527. Lowe's Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The stock's 50-day simple moving average is $253.31 and its 200 day simple moving average is $258.58. The company has a market cap of $134.91 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11.

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.