Anchor Investment Management LLC Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Anchor Investment Management LLC grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,663 shares of the home improvement retailer’s stock after purchasing an additional 126 shares during the quarter. Lowe’s Companies makes up 1.1% of Anchor Investment Management LLC’s investment portfolio, making the stock its 19th largest position. Anchor Investment Management LLC’s holdings in Lowe’s Companies were worth $11,270,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. FMR LLC boosted its stake in Lowe’s Companies by 1.0% in the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer’s stock valued at $6,483,558,000 after acquiring an additional 259,766 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Lowe’s Companies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer’s stock valued at $2,952,341,000 after purchasing an additional 245,876 shares during the period. Norges Bank acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $1,842,954,000. Bank of New York Mellon Corp grew its stake in Lowe’s Companies by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock worth $1,033,283,000 after buying an additional 385,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Lowe’s Companies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock worth $853,697,000 after buying an additional 90,012 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LOW shares. Truist Financial lowered their target price on shares of Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada dropped 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. Bank of America decreased their target price on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, February 26th. Finally, Mizuho lowered their target price on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.74.

Lowe’s Companies Stock Up 1.8 %

NYSE:LOW opened at $224.25 on Tuesday. Lowe’s Companies, Inc. has a 52-week low of $206.39 and a 52-week high of $287.01. The stock has a fifty day simple moving average of $235.57 and a 200-day simple moving average of $253.99. The company has a market capitalization of $125.51 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07.

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

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s payout ratio is currently 37.67%.

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.