Global X Japan Co. Ltd. Buys 3,379 Shares of Lowe’s Companies, Inc. $LOW

Global X Japan Co. Ltd. lifted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 121.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,150 shares of the home improvement retailer’s stock after purchasing an additional 3,379 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Lowe’s Companies were worth $1,546,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LOW. Optas LLC grew its holdings in Lowe’s Companies by 32.2% during the 3rd quarter. Optas LLC now owns 1,705 shares of the home improvement retailer’s stock valued at $428,000 after buying an additional 415 shares in the last quarter. Successful Portfolios LLC purchased a new position in shares of Lowe’s Companies in the third quarter valued at $204,000. Cushing Capital Partners LLC increased its position in Lowe’s Companies by 6.2% in the third quarter. Cushing Capital Partners LLC now owns 3,128 shares of the home improvement retailer’s stock worth $786,000 after purchasing an additional 183 shares during the last quarter. Cypress Wealth Services LLC increased its position in Lowe’s Companies by 2.0% in the third quarter. Cypress Wealth Services LLC now owns 2,191 shares of the home improvement retailer’s stock worth $551,000 after purchasing an additional 42 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in Lowe’s Companies by 4.8% during the third quarter. Vontobel Holding Ltd. now owns 232,688 shares of the home improvement retailer’s stock valued at $58,477,000 after purchasing an additional 10,623 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LOW has been the topic of a number of research reports. Wolfe Research reduced their target price on shares of Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Lowe’s Companies in a research note on Monday. HSBC decreased their price objective on Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research report on Friday, November 21st. DA Davidson dropped their target price on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. Finally, Wells Fargo & Company cut their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Seventeen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $276.80.

Lowe’s Companies Stock Down 0.0%

LOW opened at $241.97 on Wednesday. The business has a fifty day moving average of $239.87 and a 200 day moving average of $240.20. The stock has a market cap of $135.73 billion, a P/E ratio of 20.06, a PEG ratio of 4.01 and a beta of 0.96. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $274.98.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The business had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. During the same quarter last year, the firm posted $2.89 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. Equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.80%.

About Lowe’s Companies

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.