Choreo LLC Buys 16,512 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Choreo LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 115.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,802 shares of the home improvement retailer’s stock after purchasing an additional 16,512 shares during the period. Choreo LLC’s holdings in Lowe’s Companies were worth $6,596,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LOW. Paragon Private Wealth Management LLC raised its stake in shares of Lowe’s Companies by 13.5% in the fourth quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock valued at $1,086,000 after purchasing an additional 581 shares in the last quarter. ING Groep NV increased its holdings in Lowe’s Companies by 18,786.5% in the 4th quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock valued at $23,748,000 after buying an additional 106,144 shares during the period. Brevan Howard Capital Management LP raised its stake in shares of Lowe’s Companies by 824.6% in the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after buying an additional 13,680 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after acquiring an additional 20,181 shares during the period. Finally, Plato Investment Management Ltd boosted its position in shares of Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after acquiring an additional 5,470 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on LOW shares. Gordon Haskett dropped their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Bank of America dropped their target price on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. UBS Group raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Piper Sandler lowered their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Finally, Morgan Stanley lifted their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Stock Performance

Shares of LOW opened at $244.60 on Tuesday. The business’s fifty day moving average price is $237.15 and its two-hundred day moving average price is $234.30. The firm has a market capitalization of $138.76 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 2.00 and a beta of 1.10. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.56 earnings per share. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is 36.95%.

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.