TIAA CREF Investment Management LLC cut its position in shares of Lowe's Companies, Inc. (NYSE:LOW) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,612,371 shares of the home improvement retailer’s stock after selling 574,964 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.56% of Lowe's Companies worth $428,674,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Captrust Financial Advisors purchased a new stake in Lowe's Companies in the 4th quarter valued at about $6,760,000. HBK Investments L P boosted its position in Lowe's Companies by 200.0% in the 4th quarter. HBK Investments L P now owns 657,900 shares of the home improvement retailer’s stock valued at $61,145,000 after buying an additional 438,600 shares during the period. Premia Global Advisors LLC bought a new stake in shares of Lowe's Companies in the 4th quarter valued at about $265,000. Robecosam AG raised its holdings in shares of Lowe's Companies by 52.9% in the 4th quarter. Robecosam AG now owns 74,890 shares of the home improvement retailer’s stock valued at $6,954,000 after purchasing an additional 25,897 shares in the last quarter. Finally, Ellington Management Group LLC raised its holdings in shares of Lowe's Companies by 31.6% in the 4th quarter. Ellington Management Group LLC now owns 50,000 shares of the home improvement retailer’s stock valued at $4,647,000 after purchasing an additional 12,000 shares in the last quarter. 74.08% of the stock is owned by institutional investors.
Lowe's Companies, Inc. (NYSE LOW) opened at $86.14 on Wednesday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.11 and a current ratio of 1.06. Lowe's Companies, Inc. has a 52 week low of $70.76 and a 52 week high of $108.98. The stock has a market cap of $72,774.40, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 0.93 and a beta of 1.30.
Lowe's Companies declared that its Board of Directors has initiated a share buyback plan 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 buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Several research firms have recently commented on LOW. Stifel Nicolaus restated a “buy” rating and issued a $124.00 price target (up previously from $103.00) on shares of Lowe's Companies in a report on Wednesday, January 24th. Telsey Advisory Group upgraded shares of Lowe's Companies from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $83.00 to $124.00 in a report on Thursday, January 25th. Morgan Stanley set a $115.00 price target on shares of Lowe's Companies and gave the company a “buy” rating in a report on Monday, January 22nd. Sanford C. Bernstein upgraded shares of Lowe's Companies from an “underperform” rating to an “outperform” rating in a report on Monday, January 22nd. Finally, Zacks Investment Research upgraded shares of Lowe's Companies from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $97.93.
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Lowe's Companies Company 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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