Korea Investment CORP Sells 67,306 Shares of Lowe’s Companies, Inc. (LOW)

Korea Investment CORP reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 847,167 shares of the home improvement retailer’s stock after selling 67,306 shares during the period. Korea Investment CORP owned approximately 0.10% of Lowe’s Companies worth $97,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Janney Montgomery Scott LLC boosted its holdings in Lowe’s Companies by 2.2% during the second quarter. Janney Montgomery Scott LLC now owns 111,037 shares of the home improvement retailer’s stock worth $10,612,000 after buying an additional 2,439 shares in the last quarter. OLD National Bancorp IN boosted its holdings in Lowe’s Companies by 8.7% during the second quarter. OLD National Bancorp IN now owns 16,197 shares of the home improvement retailer’s stock worth $1,547,000 after buying an additional 1,295 shares in the last quarter. Kaizen Advisory LLC boosted its holdings in Lowe’s Companies by 144.1% during the second quarter. Kaizen Advisory LLC now owns 1,960 shares of the home improvement retailer’s stock worth $187,000 after buying an additional 1,157 shares in the last quarter. Allied Investment Advisors LLC boosted its holdings in Lowe’s Companies by 1.3% during the second quarter. Allied Investment Advisors LLC now owns 42,745 shares of the home improvement retailer’s stock worth $4,085,000 after buying an additional 550 shares in the last quarter. Finally, Lincoln Capital Corp boosted its holdings in Lowe’s Companies by 3.0% during the second quarter. Lincoln Capital Corp now owns 41,150 shares of the home improvement retailer’s stock worth $3,933,000 after buying an additional 1,212 shares in the last quarter. 73.95% of the stock is currently owned by hedge funds and other institutional investors.

In other Lowe’s Companies news, CFO Marshall A. Croom sold 15,735 shares of the stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total value of $1,803,388.35. Following the completion of the sale, the chief financial officer now owns 63,099 shares in the company, valued at approximately $7,231,776.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

LOW stock opened at $87.81 on Friday. Lowe’s Companies, Inc. has a 12-month low of $79.11 and a 12-month high of $117.70. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.00 and a quick ratio of 0.25. The company has a market capitalization of $70.97 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 1.19 and a beta of 1.52.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, November 20th. The home improvement retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. Lowe’s Companies had a net margin of 5.19% and a return on equity of 72.47%. The company had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $17.36 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts expect that Lowe’s Companies, Inc. will post 5.11 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 6th. Shareholders of record on Wednesday, January 23rd will be given a $0.48 dividend. The ex-dividend date is Tuesday, January 22nd. This represents a $1.92 dividend on an annualized basis and a yield of 2.19%. Lowe’s Companies’s payout ratio is 43.74%.

A number of analysts recently weighed in on the stock. Loop Capital set a $125.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Wednesday. Citigroup reduced their price target on shares of Lowe’s Companies from $112.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Jaffray Companies reduced their price target on shares of Lowe’s Companies from $110.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday. Credit Suisse Group reduced their price target on shares of Lowe’s Companies from $111.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Deutsche Bank set a $101.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $108.89.

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Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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

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