Wellington Management Group LLP Increases Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Wellington Management Group LLP raised its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 75.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,262,421 shares of the home improvement retailer's stock after acquiring an additional 541,305 shares during the period. Wellington Management Group LLP owned approximately 0.22% of Lowe's Companies worth $311,566,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LOW. State Street Corp increased its holdings in Lowe's Companies by 1.9% in 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 purchasing an additional 460,851 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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. Norges Bank acquired a new stake in shares of Lowe's Companies in the fourth quarter valued at $1,842,954,000. Bank of New York Mellon Corp raised its holdings in shares of 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 valued at $1,033,283,000 after buying an additional 385,994 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Lowe's Companies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer's stock worth $853,697,000 after acquiring an additional 90,012 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

LOW has been the subject of several research reports. BNP Paribas raised Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. Telsey Advisory Group restated an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a report on Wednesday, February 26th. Royal Bank of Canada cut their target price on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Mizuho decreased their price target on shares of Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Finally, Truist Financial cut their price objective on Lowe's Companies from $308.00 to $295.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Lowe's Companies currently has a consensus rating of "Moderate Buy" and a consensus target price of $280.35.

Lowe's Companies Stock Down 5.4 %

NYSE LOW traded down $12.75 during trading hours on Thursday, hitting $222.53. 4,474,642 shares of the stock were exchanged, compared to its average volume of 2,425,989. The stock has a 50-day moving average of $243.17 and a 200 day moving average of $256.70. Lowe's Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01. The company has a market cap 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 issued its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.83 by $0.10. The company had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. On average, equities research analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Announces Dividend

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

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.