The Checchi Capital Advisers LLC Increases Position in Lowe’s Companies, Inc. (LOW)

The Checchi Capital Advisers LLC Increases Position in Lowe’s Companies, Inc. (LOW)

Checchi Capital Advisers LLC increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.1% during the third quarter, Holdings Channel reports. The fund owned 9,939 shares of the home improvement retailer’s stock after buying an additional 108 shares during the period. Checchi Capital Advisers LLC’s holdings in Lowe’s Companies were worth $718,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Bank of Montreal Can bought a new stake in shares of Lowe’s Companies during the second quarter worth $284,442,000. Old Mutual Global Investors UK Ltd. raised its stake in shares of Lowe’s Companies by 888.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,654,218 shares of the home improvement retailer’s stock worth $119,451,000 after buying an additional 1,486,916 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Lowe’s Companies by 1,281.4% in the second quarter. Primecap Management Co. CA now owns 915,900 shares of the home improvement retailer’s stock worth $72,512,000 after buying an additional 849,600 shares during the last quarter. BlackRock Advisors LLC raised its stake in shares of Lowe’s Companies by 28.5% in the third quarter. BlackRock Advisors LLC now owns 3,412,679 shares of the home improvement retailer’s stock worth $246,429,000 after buying an additional 757,222 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Lowe’s Companies by 312.1% in the third quarter. SG Americas Securities LLC now owns 501,809 shares of the home improvement retailer’s stock worth $36,236,000 after buying an additional 738,409 shares during the last quarter. 73.97% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies, Inc. (NYSE:LOW) traded down 1.38% during midday trading on Wednesday, reaching $71.38. 8,788,340 shares of the company were exchanged. Lowe’s Companies, Inc. has a 52 week low of $62.62 and a 52 week high of $83.65. The stock has a market capitalization of $62.09 billion, a P/E ratio of 26.20 and a beta of 1.28. The firm’s 50 day moving average price is $72.56 and its 200-day moving average price is $74.04.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by $0.08. Lowe’s Companies had a return on equity of 46.46% and a net margin of 3.91%. The business had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.86 billion. During the same period last year, the firm earned $0.80 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts forecast that Lowe’s Companies, Inc. will post $3.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Shareholders of record on Wednesday, January 25th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 23rd. This represents a $1.40 annualized dividend and a yield of 1.96%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 51.28%.

A number of equities research analysts have recently weighed in on LOW shares. Vetr raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $72.18 target price on the stock in a research note on Wednesday, November 16th. Peel Hunt reissued a “buy” rating and set a $90.00 price target on shares of Lowe’s Companies in a research report on Thursday, November 3rd. Cleveland Research cut shares of Lowe’s Companies from a “buy” rating to a “neutral” rating in a research report on Thursday, October 6th. Goldman Sachs Group, Inc. (The) cut shares of Lowe’s Companies from a “conviction-buy” rating to a “buy” rating and lowered their price target for the company from $95.00 to $86.00 in a research report on Monday, October 17th. Finally, Zacks Investment Research raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Tuesday, October 18th. Thirteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Lowe’s Companies has an average rating of “Buy” and a consensus target price of $82.19.

In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 2,609 shares of Lowe’s Companies stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $70.29, for a total transaction of $183,386.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Marshall A. Croom sold 6,300 shares of Lowe’s Companies stock in a transaction on Monday, November 28th. The stock was sold at an average price of $71.52, for a total transaction of $450,576.00. Following the sale, the insider now directly owns 40,602 shares in the company, valued at approximately $2,903,855.04. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

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