Kingdon Capital Management L.L.C. Has $13.05 Million Stake in Lowe’s Companies, Inc. (LOW)
Kingdon Capital Management L.L.C. lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,284 shares of the home improvement retailer’s stock after purchasing an additional 11,907 shares during the quarter. Kingdon Capital Management L.L.C.’s holdings in Lowe’s Companies were worth $13,047,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in LOW. Vanguard Group Inc. grew its holdings in Lowe’s Companies by 4.3% during the first quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock worth $5,250,843,000 after acquiring an additional 2,650,045 shares during the period. Blue Edge Capital LLC acquired a new position in Lowe’s Companies during the first quarter worth $727,000. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Lowe’s Companies by 11.8% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 105,471 shares of the home improvement retailer’s stock worth $8,177,000 after acquiring an additional 11,119 shares during the period. Summit Global Investments acquired a new position in Lowe’s Companies during the second quarter worth $1,421,000. Finally, Ffcm LLC grew its holdings in Lowe’s Companies by 6.4% during the second quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock worth $2,395,000 after acquiring an additional 1,853 shares during the period. Institutional investors and hedge funds own 74.00% of the company’s stock.
Lowe’s Companies, Inc. (NYSE:LOW) opened at $81.46 on Tuesday. Lowe’s Companies, Inc. has a 12-month low of $68.83 and a 12-month high of $86.25. The firm has a market capitalization of $67,840.00, a PE ratio of 18.48, a P/E/G ratio of 1.29 and a beta of 1.13. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.19 and a current ratio of 1.03.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.05). Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The business had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.58 billion. During the same quarter last year, the company posted $1.37 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. analysts predict that Lowe’s Companies, Inc. will post 4.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be given a dividend of $0.41 per share. The ex-dividend date is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a yield of 2.01%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 46.20%.
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In other news, SVP Matthew V. Hollifield sold 7,853 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $78.30, for a total value of $614,889.90. Following the transaction, the senior vice president now directly owns 30,750 shares in the company, valued at approximately $2,407,725. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the completion of the transaction, the insider now owns 8,400 shares in the company, valued at $655,368. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
A number of research analysts recently weighed in on the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $90.00 price objective (up previously from $85.00) on shares of Lowe’s Companies in a report on Friday, October 6th. Gordon Haskett assumed coverage on Lowe’s Companies in a report on Tuesday, October 3rd. They set an “accumulate” rating and a $88.00 price objective on the stock. Zacks Investment Research raised Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Robert W. Baird set a $87.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $82.00 price objective on shares of Lowe’s Companies in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the stock. Lowe’s Companies has an average rating of “Hold” and an average target price of $85.62.
About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a 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.
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