Franklin Resources Inc. lowered its stake in shares of Lowe's Companies, Inc. (NYSE:LOW) by 12.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,426,458 shares of the home improvement retailer’s stock after selling 202,925 shares during the quarter. Franklin Resources Inc. owned approximately 0.17% of Lowe's Companies worth $132,575,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in LOW. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Lowe's Companies by 40.3% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,144,020 shares of the home improvement retailer’s stock worth $1,210,613,000 after acquiring an additional 4,351,830 shares during the period. Janus Henderson Group PLC boosted its position in Lowe's Companies by 1,457.8% during the 2nd quarter. Janus Henderson Group PLC now owns 3,787,825 shares of the home improvement retailer’s stock worth $293,669,000 after acquiring an additional 3,544,665 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in Lowe's Companies by 2,147.5% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 2,509,600 shares of the home improvement retailer’s stock worth $200,617,000 after acquiring an additional 2,397,937 shares during the period. Alyeska Investment Group L.P. boosted its position in Lowe's Companies by 196.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 3,284,209 shares of the home improvement retailer’s stock worth $262,540,000 after acquiring an additional 2,177,496 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in Lowe's Companies during the 4th quarter worth $178,251,000. Institutional investors and hedge funds own 74.08% of the company’s stock.
A number of research analysts have issued reports on LOW shares. BMO Capital Markets reiterated a “hold” rating and set a $95.00 price target (up previously from $82.00) on shares of Lowe's Companies in a research report on Thursday, March 1st. Royal Bank of Canada reduced their price target on Lowe's Companies to $102.00 and set an “outperform” rating for the company in a research report on Thursday, March 1st. Credit Suisse Group set a $116.00 price target on Lowe's Companies and gave the stock a “buy” rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $100.00 price target on shares of Lowe's Companies in a research report on Tuesday, March 6th. Finally, Telsey Advisory Group boosted their price target on Lowe's Companies from $79.00 to $83.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. Lowe's Companies presently has a consensus rating of “Buy” and an average target price of $97.93.
Lowe's Companies (NYSE:LOW) last announced its earnings results on Wednesday, February 28th. The home improvement retailer reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.13). The company had revenue of $15.49 billion for the quarter, compared to analyst estimates of $15.34 billion. Lowe's Companies had a return on equity of 65.17% and a net margin of 5.02%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. research analysts anticipate that Lowe's Companies, Inc. will post 5.47 EPS for the current fiscal year.
Lowe's Companies announced that its Board of Directors has initiated a share repurchase program on Friday, January 26th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Lowe's Companies Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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