Farmers & Merchants Investments Inc. trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 11.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 140,538 shares of the home improvement retailer’s stock after selling 18,348 shares during the period. Lowe’s Companies accounts for approximately 1.1% of Farmers & Merchants Investments Inc.’s holdings, making the stock its 14th largest holding. Farmers & Merchants Investments Inc.’s holdings in Lowe’s Companies were worth $29,209,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp lifted its stake in shares of Lowe’s Companies by 1.5% in the 2nd quarter. State Street Corp now owns 25,223,923 shares of the home improvement retailer’s stock valued at $5,693,039,000 after purchasing an additional 374,457 shares in the last quarter. Morgan Stanley lifted its position in Lowe’s Companies by 21.3% during the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after acquiring an additional 2,050,089 shares in the last quarter. Geode Capital Management LLC lifted its position in Lowe’s Companies by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 10,992,637 shares of the home improvement retailer’s stock worth $2,474,841,000 after acquiring an additional 135,510 shares in the last quarter. Norges Bank acquired a new position in Lowe’s Companies during the 4th quarter worth approximately $1,461,267,000. Finally, Moneta Group Investment Advisors LLC lifted its position in Lowe’s Companies by 107,710.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock worth $1,012,147,000 after acquiring an additional 5,075,327 shares in the last quarter. 71.88% of the stock is owned by institutional investors and hedge funds.
Lowe’s Companies Stock Up 0.6 %
LOW stock traded up $1.29 during trading on Friday, reaching $212.51. 2,577,797 shares of the company’s stock were exchanged, compared to its average volume of 3,142,103. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $237.21. The company’s fifty day moving average price is $207.30 and its 200-day moving average price is $214.38. The firm has a market cap of $122.22 billion, a PE ratio of 16.38, a P/E/G ratio of 1.50 and a beta of 1.10.
Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.03. The business had revenue of $20.74 billion during the quarter, compared to analyst estimates of $20.87 billion. Lowe’s Companies had a negative return on equity of 54.56% and a net margin of 8.49%. The company’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.27 earnings per share. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 13.02 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts recently commented on the company. Truist Financial boosted their price target on Lowe’s Companies from $225.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Telsey Advisory Group restated a “market perform” rating and set a $215.00 price objective (down from $225.00) on shares of Lowe’s Companies in a report on Tuesday, November 21st. Stifel Nicolaus downgraded Lowe’s Companies from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $235.00 to $240.00 in a report on Wednesday, December 20th. TheStreet downgraded Lowe’s Companies from a “b-” rating to a “c+” rating in a report on Tuesday, November 21st. Finally, Morgan Stanley dropped their price objective on Lowe’s Companies from $255.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, November 22nd. Twelve research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and an average target price of $238.92.
Get Our Latest Stock Report on Lowe’s Companies
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.
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