Buckingham Asset Management LLC Has $773,000 Position in Lowe's Companies, Inc. (LOW)
Buckingham Asset Management LLC increased its position in Lowe's Companies, Inc. (NYSE:LOW) by 36.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,318 shares of the home improvement retailer’s stock after acquiring an additional 2,244 shares during the period. Buckingham Asset Management LLC’s holdings in Lowe's Companies were worth $773,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Teachers Advisors LLC grew its position in Lowe's Companies by 3.2% in the 2nd quarter. Teachers Advisors LLC now owns 1,460,912 shares of the home improvement retailer’s stock valued at $113,265,000 after buying an additional 45,405 shares in the last quarter. Buckingham Capital Management Inc. grew its position in Lowe's Companies by 1.8% in the 2nd quarter. Buckingham Capital Management Inc. now owns 31,480 shares of the home improvement retailer’s stock valued at $2,441,000 after buying an additional 565 shares in the last quarter. Strategic Advisors LLC grew its position in Lowe's Companies by 26.4% in the 2nd quarter. Strategic Advisors LLC now owns 3,171 shares of the home improvement retailer’s stock valued at $246,000 after buying an additional 662 shares in the last quarter. Chemical Bank grew its position in Lowe's Companies by 0.8% in the 2nd quarter. Chemical Bank now owns 61,004 shares of the home improvement retailer’s stock valued at $4,730,000 after buying an additional 472 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Lowe's Companies by 0.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 9,281,474 shares of the home improvement retailer’s stock valued at $719,560,000 after buying an additional 64,780 shares in the last quarter. 73.78% of the stock is currently owned by institutional investors and hedge funds.
LOW has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $84.00 target price on shares of Lowe's Companies in a research report on Tuesday, November 7th. Credit Suisse Group set a $88.00 target price on shares of Lowe's Companies and gave the company a “hold” rating in a research report on Friday, November 24th. KeyCorp initiated coverage on shares of Lowe's Companies in a research report on Monday, November 6th. They issued an “overweight” rating and a $98.00 target price for the company. Barclays upgraded shares of Lowe's Companies from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 5th. Finally, Morgan Stanley set a $115.00 target price on shares of Lowe's Companies and gave the company a “buy” rating in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $97.52.
Lowe's Companies (NYSE:LOW) last announced its earnings results on Wednesday, February 28th. The home improvement retailer reported $0.74 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.13). Lowe's Companies had a return on equity of 65.96% and a net margin of 5.02%. The firm had revenue of $15.49 billion during the quarter, compared to analyst estimates of $15.34 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. sell-side analysts predict that Lowe's Companies, Inc. will post 6.33 EPS for the current year.
Lowe's Companies declared that its Board of Directors has approved a stock repurchase program on Friday, January 26th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the home improvement retailer to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
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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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