Geode Capital Management LLC Purchases 887,579 Shares of Lowe’s Companies, Inc. $LOW

Geode Capital Management LLC raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,326,581 shares of the home improvement retailer’s stock after acquiring an additional 887,579 shares during the period. Geode Capital Management LLC owned approximately 2.38% of Lowe’s Companies worth $3,201,329,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bridges Investment Management Inc. increased its stake in Lowe’s Companies by 13.4% in the 3rd quarter. Bridges Investment Management Inc. now owns 420,832 shares of the home improvement retailer’s stock worth $105,759,000 after buying an additional 49,858 shares during the period. Glenview Trust Co increased its stake in Lowe’s Companies by 9.0% in the 4th quarter. Glenview Trust Co now owns 207,797 shares of the home improvement retailer’s stock worth $50,112,000 after buying an additional 17,225 shares during the period. Jefferies Financial Group Inc. increased its stake in Lowe’s Companies by 134.3% in the 3rd quarter. Jefferies Financial Group Inc. now owns 56,252 shares of the home improvement retailer’s stock worth $14,137,000 after buying an additional 32,240 shares during the period. CX Institutional increased its stake in Lowe’s Companies by 17.7% in the 4th quarter. CX Institutional now owns 31,380 shares of the home improvement retailer’s stock worth $7,568,000 after buying an additional 4,711 shares during the period. Finally, National Pension Service increased its stake in Lowe’s Companies by 2.7% in the 3rd quarter. National Pension Service now owns 1,286,782 shares of the home improvement retailer’s stock worth $323,381,000 after buying an additional 33,686 shares during the period. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of Lowe’s Companies from $292.00 to $277.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Telsey Advisory Group reduced their price objective on Lowe’s Companies from $295.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Rothschild & Co Redburn lifted their target price on Lowe’s Companies from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. BTIG Research cut Lowe’s Companies to a “reduce” rating in a report on Tuesday, May 12th. Finally, Craig Hallum raised Lowe’s Companies to a “buy” rating in a research report on Tuesday, May 12th. Twenty-three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $264.57.

Lowe’s Companies Stock Performance

NYSE LOW opened at $217.17 on Thursday. The company has a market capitalization of $121.63 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 4.60 and a beta of 0.91. The company’s 50-day simple moving average is $233.26 and its two-hundred day simple moving average is $247.70. Lowe’s Companies, Inc. has a one year low of $208.00 and a one year high of $293.06.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, May 20th. The home improvement retailer reported $3.03 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.06. The business had revenue of $23.08 billion for the quarter, compared to the consensus estimate of $22.98 billion. Lowe’s Companies had a net margin of 7.51% and a negative return on equity of 67.96%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.92 EPS. Lowe’s Companies has set its FY 2026 guidance at 12.250-12.750 EPS. Equities analysts expect that Lowe’s Companies, Inc. will post 12.5 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, April 22nd. Lowe’s Companies’s dividend payout ratio is presently 40.57%.

Lowe’s Companies Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.