Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 84,359 shares of the home improvement retailer’s stock after selling 171 shares during the period. New York Life Investment Management LLC’s holdings in Lowe’s Companies were worth $20,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Apriem Advisors increased its holdings in shares of Lowe’s Companies by 1.0% in the 4th quarter. Apriem Advisors now owns 7,361 shares of the home improvement retailer’s stock worth $1,817,000 after acquiring an additional 76 shares during the period. Convergence Financial LLC grew its position in Lowe’s Companies by 2.7% in the 4th quarter. Convergence Financial LLC now owns 7,553 shares of the home improvement retailer’s stock worth $1,864,000 after purchasing an additional 202 shares during the last quarter. Heritage Investors Management Corp acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $227,000. Whipplewood Advisors LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $199,000. Finally, Carlson Capital L.P. bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $568,000. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on LOW shares. Barclays raised their target price on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Stifel Nicolaus raised their price target on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Royal Bank of Canada upped their price objective on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Guggenheim reissued a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, Truist Financial upped their price target on shares of Lowe’s Companies from $307.00 to $308.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $282.96.

Lowe’s Companies Price Performance

Shares of LOW opened at $247.16 on Thursday. The company has a 50-day moving average of $252.48 and a two-hundred day moving average of $258.86. The stock has a market cap of $139.56 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.96 and a beta of 1.11. Lowe’s Companies, Inc. has a one year low of $211.80 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10. The firm had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. Analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

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.