Arvest Investments Inc. Has $2.34 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Arvest Investments Inc. lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,491 shares of the home improvement retailer’s stock after selling 702 shares during the quarter. Arvest Investments Inc.’s holdings in Lowe’s Companies were worth $2,343,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. StoneX Group Inc. bought a new position in shares of Lowe’s Companies in the 3rd quarter valued at about $2,713,000. Principal Financial Group Inc. boosted its stake in shares of Lowe’s Companies by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after purchasing an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in shares of Lowe’s Companies by 288.6% in the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock valued at $4,696,000 after purchasing an additional 14,132 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Lowe’s Companies by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after purchasing an additional 4,435 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in shares of Lowe’s Companies by 2.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer’s stock valued at $4,894,000 after purchasing an additional 501 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on LOW shares. Stifel Nicolaus lifted their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein lifted their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Bank of America reduced their price objective on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada reduced their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Finally, Truist Financial lowered their price objective on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $225.47 on Thursday. The firm has a 50-day moving average of $248.81 and a 200-day moving average of $258.07. The stock has a market cap of $127.31 billion, a PE ratio of 18.81, a PEG ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 52-week low of $211.80 and a 52-week high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

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.