Korea Investment CORP Sells 33,118 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Korea Investment CORP decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 380,224 shares of the home improvement retailer’s stock after selling 33,118 shares during the period. Korea Investment CORP’s holdings in Lowe’s Companies were worth $93,839,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. United Bank raised its stake in Lowe’s Companies by 1.4% during the third quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock worth $2,735,000 after acquiring an additional 137 shares in the last quarter. Soros Capital Management LLC increased its position in shares of Lowe’s Companies by 39.3% during the 3rd quarter. Soros Capital Management LLC now owns 2,508 shares of the home improvement retailer’s stock worth $679,000 after purchasing an additional 708 shares in the last quarter. Blueshift Asset Management LLC lifted its holdings in Lowe’s Companies by 13.2% during the 3rd quarter. Blueshift Asset Management LLC now owns 2,770 shares of the home improvement retailer’s stock valued at $750,000 after purchasing an additional 324 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Lowe’s Companies by 101.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 150,000 shares of the home improvement retailer’s stock valued at $40,628,000 after purchasing an additional 75,500 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its position in Lowe’s Companies by 18.5% in the third quarter. CreativeOne Wealth LLC now owns 12,344 shares of the home improvement retailer’s stock valued at $3,343,000 after buying an additional 1,924 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $231.91 on Thursday. Lowe’s Companies, Inc. has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The firm has a market capitalization of $130.95 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 1.96 and a beta of 1.12. The company’s 50 day simple moving average is $246.76 and its 200 day simple moving average is $257.53.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. The company had revenue of $18.55 billion during 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%. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio is currently 37.67%.

Wall Street Analysts Forecast Growth

LOW has been the subject of several recent analyst reports. Truist Financial dropped their price objective on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Piper Sandler decreased their target price on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a report on Monday. Guggenheim reaffirmed a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Sanford C. Bernstein increased their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $279.71.

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.