Geode Capital Management LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,848,938 shares of the home improvement retailer’s stock after buying an additional 671,581 shares during the period. Geode Capital Management LLC owned about 1.03% of Lowe’s Companies worth $726,481,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Lowe’s Companies by 4.3% in the first quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock valued at $5,250,843,000 after buying an additional 2,650,045 shares in the last quarter. Cim Investment Mangement Inc. acquired a new stake in Lowe’s Companies during the first quarter valued at $675,000. Marshall Wace North America L.P. acquired a new stake in Lowe’s Companies during the first quarter valued at $48,171,000. Guardian Life Insurance Co. of America increased its stake in Lowe’s Companies by 0.4% in the first quarter. Guardian Life Insurance Co. of America now owns 3,346 shares of the home improvement retailer’s stock valued at $275,000 after buying an additional 13 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in Lowe’s Companies during the first quarter valued at $48,171,000. 72.91% of the stock is owned by institutional investors and hedge funds.

Shares of Lowe’s Companies, Inc. (LOW) traded up 0.6301% during midday trading on Thursday, reaching $74.3757. 1,767,220 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $75.99 and its 200 day moving average price is $79.50. Lowe’s Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $86.25. The company has a market cap of $62.25 billion, a price-to-earnings ratio of 21.1175 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by $0.05. The business had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.58 billion. Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.37 EPS. Equities analysts anticipate that Lowe’s Companies, Inc. will post $4.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $1.64 annualized dividend and a yield of 2.22%. Lowe’s Companies’s dividend payout ratio (DPR) is 46.20%.

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Several research firms have weighed in on LOW. Zacks Investment Research downgraded shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a research note on Monday. J P Morgan Chase & Co reissued a “neutral” rating and issued a $83.00 price target (down from $89.00) on shares of Lowe’s Companies in a research note on Thursday, August 24th. Jefferies Group LLC reissued a “hold” rating and issued a $75.00 price target (down from $89.00) on shares of Lowe’s Companies in a research note on Thursday, August 24th. Piper Jaffray Companies reissued a “hold” rating and issued a $80.00 price target (down from $83.00) on shares of Lowe’s Companies in a research note on Thursday, August 24th. Finally, Morgan Stanley lowered their price target on shares of Lowe’s Companies from $88.00 to $81.00 and set an “overweight” rating for the company in a research note on Thursday, August 24th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. Lowe’s Companies presently has an average rating of “Hold” and an average target price of $84.57.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc (Lowe’s) is a FORTUNE home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.

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

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