Maverick Capital Ltd. Purchases Shares of 26,290 Lowe’s Companies, Inc. (LOW)

Maverick Capital Ltd. purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,290 shares of the home improvement retailer’s stock, valued at approximately $2,038,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LOW. SRS Capital Advisors Inc. increased its stake in Lowe’s Companies by 0.4% during the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after acquiring an additional 5 shares during the period. Harbour Capital Advisors LLC bought a new stake in shares of Lowe’s Companies in the 1st quarter valued at approximately $103,000. State of Alaska Department of Revenue grew its stake in shares of Lowe’s Companies by 8.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after purchasing an additional 110 shares during the period. Balentine LLC bought a new stake in shares of Lowe’s Companies in the 1st quarter valued at approximately $120,000. Finally, Proficio Capital Partners LLC grew its stake in shares of Lowe’s Companies by 140.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,589 shares of the home improvement retailer’s stock valued at $127,000 after purchasing an additional 928 shares during the period. Hedge funds and other institutional investors own 74.00% of the company’s stock.

In other news, insider Paul D. Ramsay sold 2,098 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the transaction, the insider now owns 8,400 shares of the company’s stock, valued at approximately $655,368. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $78.30, for a total value of $614,889.90. Following the completion of the transaction, the senior vice president now directly owns 30,750 shares in the company, valued at approximately $2,407,725. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

Several research firms have recently weighed in on LOW. Bank of America Corporation began coverage on Lowe’s Companies in a research note on Tuesday, September 5th. They issued a “buy” rating and a $95.00 price objective on the stock. Zacks Investment Research upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Friday, August 11th. Royal Bank Of Canada lowered their price objective on Lowe’s Companies from $85.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, August 24th. BTIG Research reiterated a “buy” rating and issued a $95.00 price objective on shares of Lowe’s Companies in a research note on Friday, August 18th. Finally, BMO Capital Markets lowered Lowe’s Companies from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $89.00 to $82.00 in a research note on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $85.62.

Lowe’s Companies, Inc. (NYSE:LOW) opened at $81.46 on Tuesday. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.03 and a quick ratio of 0.19. The firm has a market capitalization of $67,840.00, a price-to-earnings ratio of 18.48, a PEG ratio of 1.29 and a beta of 1.13. Lowe’s Companies, Inc. has a 12 month low of $68.83 and a 12 month high of $86.25.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.05). The company had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $1.37 EPS. sell-side analysts forecast that Lowe’s Companies, Inc. will post 4.5 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 46.20%.

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Lowe’s Companies Profile

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.

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

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