Schonfeld Strategic Advisors LLC Purchases 139,000 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Schonfeld Strategic Advisors LLC grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5,299.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,623 shares of the home improvement retailer’s stock after purchasing an additional 139,000 shares during the period. Lowe’s Companies comprises about 0.5% of Schonfeld Strategic Advisors LLC’s holdings, making the stock its 28th largest holding. Schonfeld Strategic Advisors LLC’s holdings in Lowe’s Companies were worth $19,136,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LOW. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in Lowe’s Companies by 14.0% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 9,925 shares of the home improvement retailer’s stock valued at $1,342,000 after buying an additional 1,220 shares during the period. Flagship Harbor Advisors LLC lifted its position in Lowe’s Companies by 33.7% in the second quarter. Flagship Harbor Advisors LLC now owns 3,448 shares of the home improvement retailer’s stock worth $465,000 after purchasing an additional 869 shares during the period. Wedbush Securities Inc. lifted its position in Lowe’s Companies by 9.2% in the second quarter. Wedbush Securities Inc. now owns 10,594 shares of the home improvement retailer’s stock worth $1,431,000 after purchasing an additional 889 shares during the period. State Street Corp lifted its holdings in shares of Lowe’s Companies by 2.7% during the first quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock valued at $3,047,351,000 after acquiring an additional 922,369 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Lowe’s Companies by 9.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 242,210 shares of the home improvement retailer’s stock valued at $32,727,000 after acquiring an additional 21,329 shares during the period. 74.63% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Ross W. Mccanless sold 62,838 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $168.33, for a total transaction of $10,577,520.54. Following the completion of the sale, the executive vice president now owns 72,967 shares of the company’s stock, valued at $12,282,535.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.

A number of research analysts have issued reports on LOW shares. Robert W. Baird lifted their price objective on Lowe’s Companies from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Truist Financial lifted their price objective on Lowe’s Companies from $135.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Truist Securiti lifted their price objective on Lowe’s Companies from $135.00 to $178.00 in a report on Wednesday, August 12th. BofA Securities lifted their price objective on Lowe’s Companies from $176.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Finally, KeyCorp lifted their price objective on Lowe’s Companies from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Three research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. Lowe’s Companies presently has a consensus rating of “Buy” and a consensus price target of $165.75.

Shares of LOW stock traded down $2.32 on Wednesday, hitting $166.71. The company had a trading volume of 3,799,191 shares, compared to its average volume of 5,328,944. The firm has a market cap of $125.99 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.19 and a beta of 1.50. The stock’s 50-day moving average is $157.30 and its two-hundred day moving average is $124.21. The company has a debt-to-equity ratio of 4.64, a quick ratio of 0.65 and a current ratio of 1.30. Lowe’s Companies, Inc. has a twelve month low of $60.00 and a twelve month high of $171.72.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.80. The company had revenue of $27.30 billion during the quarter, compared to analysts’ expectations of $24.24 billion. Lowe’s Companies had a return on equity of 228.17% and a net margin of 7.12%. The business’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.15 earnings per share. Equities research analysts predict that Lowe’s Companies, Inc. will post 8.39 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Wednesday, October 21st will be paid a $0.60 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.40 annualized dividend and a dividend yield of 1.44%. Lowe’s Companies’s dividend payout ratio is presently 38.46%.

About Lowe’s Companies

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

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

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