Cpwm LLC Takes $406,000 Position in Lowe’s Companies, Inc. (LOW)

Cpwm LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 3,536 shares of the home improvement retailer’s stock, valued at approximately $406,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its stake in Lowe’s Companies by 8.0% during the 3rd quarter. FMR LLC now owns 21,879,740 shares of the home improvement retailer’s stock worth $2,512,233,000 after acquiring an additional 1,616,536 shares during the period. Magellan Asset Management Ltd increased its stake in shares of Lowe’s Companies by 0.3% in the 2nd quarter. Magellan Asset Management Ltd now owns 20,201,275 shares of the home improvement retailer’s stock valued at $1,930,636,000 after purchasing an additional 51,787 shares during the last quarter. Boston Partners increased its stake in shares of Lowe’s Companies by 382.4% in the 2nd quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock valued at $457,230,000 after purchasing an additional 3,792,479 shares during the last quarter. Winslow Capital Management LLC increased its stake in shares of Lowe’s Companies by 28.4% in the 3rd quarter. Winslow Capital Management LLC now owns 4,081,562 shares of the home improvement retailer’s stock valued at $468,645,000 after purchasing an additional 901,607 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Lowe’s Companies by 1.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,423,886 shares of the home improvement retailer’s stock valued at $327,221,000 after purchasing an additional 61,681 shares during the last quarter. Institutional investors own 73.92% of the company’s stock.

Several brokerages have recently issued reports on LOW. Goldman Sachs Group set a $125.00 price target on Lowe’s Companies and gave the company a “buy” rating in a research note on Friday, September 28th. Bank of America set a $132.00 price target on Lowe’s Companies and gave the company a “buy” rating in a research note on Tuesday, October 2nd. SunTrust Banks upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Friday, September 28th. Telsey Advisory Group lifted their price target on Lowe’s Companies from $123.00 to $126.00 and gave the company an “outperform” rating in a research note on Friday, September 28th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $130.00 price target (up previously from $120.00) on shares of Lowe’s Companies in a research note on Monday, September 17th. Ten investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $109.54.

In related news, CFO Marshall A. Croom sold 15,735 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $114.61, for a total transaction of $1,803,388.35. Following the sale, the chief financial officer now owns 63,099 shares of the company’s stock, valued at approximately $7,231,776.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian C. Rogers acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 23rd. The shares were purchased at an average cost of $88.02 per share, for a total transaction of $880,200.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $880,200. The disclosure for this purchase can be found here. Company insiders own 0.30% of the company’s stock.

NYSE LOW opened at $90.95 on Friday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.18 and a current ratio of 1.00. Lowe’s Companies, Inc. has a twelve month low of $81.16 and a twelve month high of $117.70. The firm has a market cap of $73.01 billion, a P/E ratio of 20.72, a PEG ratio of 1.24 and a beta of 1.55.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, November 20th. The home improvement retailer reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.06. Lowe’s Companies had a return on equity of 72.47% and a net margin of 5.19%. The company had revenue of $17.42 billion for the quarter, compared to the consensus estimate of $17.36 billion. During the same quarter last year, the business posted $1.05 EPS. Lowe’s Companies’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts forecast that Lowe’s Companies, Inc. will post 5.11 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 6th. Investors of record on Wednesday, January 23rd will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Tuesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is 43.74%.

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About Lowe’s Companies

Lowe’s Cos., Inc engages in the retail sale of home improvement products. It offers products for maintenance, repair, remodeling, home decorating, and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows, and doors.

See Also: Systematic Risk and Investors

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOW).

Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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