Jennison Associates LLC acquired a new position in Loweâ€™s Companies, Inc. (NYSE:LOW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 98,466 shares of the home improvement retailerâ€™s stock, valued at approximately $9,410,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. NuWave Investment Management LLC bought a new position in shares of Loweâ€™s Companies in the 2nd quarter worth approximately $126,000. FNY Investment Advisers LLC bought a new position in shares of Loweâ€™s Companies in the 2nd quarter worth approximately $127,000. ClariVest Asset Management LLC bought a new position in shares of Loweâ€™s Companies in the 1st quarter worth approximately $118,000. Rainier Group Investment Advisory LLC bought a new position in shares of Loweâ€™s Companies in the 1st quarter worth approximately $121,000. Finally, Jacobi Capital Management LLC raised its position in shares of Loweâ€™s Companies by 88.8% in the 1st quarter. Jacobi Capital Management LLC now owns 1,524 shares of the home improvement retailerâ€™s stock worth $129,000 after acquiring an additional 717 shares in the last quarter. Hedge funds and other institutional investors own 74.12% of the companyâ€™s stock.
In other news, Director Lisa W. Wardell bought 273 shares of Loweâ€™s Companies stock in a transaction dated Friday, August 24th. The shares were purchased at an average cost of $107.72 per share, with a total value of $29,407.56. Following the completion of the acquisition, the director now owns 273 shares of the companyâ€™s stock, valued at approximately $29,407.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.30% of the companyâ€™s stock.Loweâ€™s Companies stock traded up $0.21 during trading on Friday, reaching $109.59. The company had a trading volume of 3,826,200 shares, compared to its average volume of 5,889,135. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.25 and a current ratio of 1.06. The stock has a market cap of $87.63 billion, a P/E ratio of 24.96, a P/E/G ratio of 1.46 and a beta of 1.40. Loweâ€™s Companies, Inc. has a 52 week low of $75.36 and a 52 week high of $110.78.
Loweâ€™s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, beating the Zacksâ€™ consensus estimate of $2.02 by $0.05. The business had revenue of $20.89 billion for the quarter, compared to analystsâ€™ expectations of $20.79 billion. Loweâ€™s Companies had a return on equity of 71.96% and a net margin of 5.58%. The businessâ€™s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $1.57 earnings per share. analysts predict that Loweâ€™s Companies, Inc. will post 5.2 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Stockholders of record on Wednesday, October 24th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $1.92 annualized dividend and a dividend yield of 1.75%. Loweâ€™s Companiesâ€™s dividend payout ratio (DPR) is 43.74%.
Several analysts recently weighed in on the company. Credit Suisse Group set a $111.00 price target on Loweâ€™s Companies and gave the stock a â€śbuyâ€ť rating in a research note on Monday, May 14th. Morgan Stanley set a $115.00 price target on Loweâ€™s Companies and gave the stock a â€śbuyâ€ť rating in a research note on Thursday, May 24th. Raymond James upped their price target on Loweâ€™s Companies from $105.00 to $112.00 and gave the stock an â€śoutperformâ€ť rating in a research note on Thursday, August 23rd. Argus upped their price target on Loweâ€™s Companies to $120.00 and gave the stock a â€śbuyâ€ť rating in a research note on Thursday, August 23rd. Finally, Royal Bank of Canada upped their price target on Loweâ€™s Companies to $104.00 and gave the stock an â€śoutperformâ€ť rating in a research note on Thursday, May 24th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the companyâ€™s stock. The stock has a consensus rating of â€śBuyâ€ť and a consensus price target of $111.41.
Loweâ€™s Companies Profile
Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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