Oppenheimer & Co. Inc. Cuts Stake in Lowe’s Companies, Inc. (LOW)

Oppenheimer & Co. Inc. cut its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 120,076 shares of the home improvement retailer’s stock after selling 3,500 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Lowe’s Companies were worth $13,145,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Lowe’s Companies by 0.7% in the fourth quarter. BlackRock Inc. now owns 53,503,078 shares of the home improvement retailer’s stock worth $4,941,544,000 after buying an additional 371,008 shares during the last quarter. FMR LLC lifted its stake in shares of Lowe’s Companies by 9.2% in the fourth quarter. FMR LLC now owns 23,893,923 shares of the home improvement retailer’s stock worth $2,206,843,000 after buying an additional 2,014,183 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Lowe’s Companies by 8,621.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 17,673,178 shares of the home improvement retailer’s stock worth $191,000 after buying an additional 17,470,536 shares during the last quarter. Lunia Capital LP lifted its stake in shares of Lowe’s Companies by 18,944.2% in the fourth quarter. Lunia Capital LP now owns 15,741,007 shares of the home improvement retailer’s stock worth $15,741,000 after buying an additional 15,658,352 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Lowe’s Companies by 1.3% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,171,980 shares of the home improvement retailer’s stock worth $1,308,924,000 after buying an additional 182,823 shares during the last quarter. Institutional investors own 76.66% of the company’s stock.

Several equities analysts recently commented on the stock. Wells Fargo & Co upped their target price on shares of Lowe’s Companies from $110.00 to $120.00 in a research note on Thursday, February 28th. Morgan Stanley boosted their price target on shares of Lowe’s Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, February 28th. Citigroup upped their target price on shares of Lowe’s Companies from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Robert W. Baird upped their target price on shares of Lowe’s Companies from $120.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. Finally, Loop Capital upped their target price on shares of Lowe’s Companies from $99.00 to $102.00 and gave the stock a “hold” rating in a report on Wednesday, February 27th. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $114.57.

Shares of NYSE:LOW traded down $13.16 during mid-day trading on Wednesday, reaching $97.94. The stock had a trading volume of 22,711,709 shares, compared to its average volume of 4,617,458. The company has a market capitalization of $86.74 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.27 and a beta of 1.26. The company has a debt-to-equity ratio of 3.95, a current ratio of 0.98 and a quick ratio of 0.11. Lowe’s Companies, Inc. has a twelve month low of $84.75 and a twelve month high of $118.23.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.11). Lowe’s Companies had a return on equity of 80.91% and a net margin of 3.24%. The business had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $17.65 billion. During the same period in the previous year, the company posted $1.19 earnings per share. Lowe’s Companies’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts expect that Lowe’s Companies, Inc. will post 6.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $1.92 annualized dividend and a dividend yield of 1.96%. Lowe’s Companies’s dividend payout ratio is currently 37.35%.

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About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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