Lowe's Companies, Inc. (LOW) Shares Sold by Shellback Capital LP

Shellback Capital LP reduced its stake in Lowe's Companies, Inc. (NYSE:LOW) by 49.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 175,000 shares of the home improvement retailer’s stock after selling 170,000 shares during the period. Shellback Capital LP’s holdings in Lowe's Companies were worth $16,265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of LOW. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Lowe's Companies by 40.3% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,144,020 shares of the home improvement retailer’s stock worth $1,210,613,000 after acquiring an additional 4,351,830 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Lowe's Companies by 1,457.8% in the 2nd quarter. Janus Henderson Group PLC now owns 3,787,825 shares of the home improvement retailer’s stock worth $293,669,000 after purchasing an additional 3,544,665 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Lowe's Companies by 2,147.5% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 2,509,600 shares of the home improvement retailer’s stock worth $200,617,000 after purchasing an additional 2,397,937 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Lowe's Companies by 196.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 3,284,209 shares of the home improvement retailer’s stock worth $262,540,000 after purchasing an additional 2,177,496 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Lowe's Companies in the 4th quarter worth approximately $178,251,000. 73.81% of the stock is owned by institutional investors.

A number of analysts recently commented on the stock. JPMorgan Chase reiterated a “neutral” rating and issued a $100.00 target price on shares of Lowe's Companies in a report on Tuesday, March 6th. Zacks Investment Research downgraded shares of Lowe's Companies from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Credit Suisse Group reiterated an “outperform” rating and issued a $111.00 target price on shares of Lowe's Companies in a report on Monday, March 5th. SunTrust Banks boosted their target price on shares of Lowe's Companies from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, March 2nd. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $95.00 target price (up from $82.00) on shares of Lowe's Companies in a report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $97.93.

LOW traded down $3.16 on Monday, reaching $84.59. 9,611,631 shares of the company traded hands, compared to its average volume of 7,423,360. Lowe's Companies, Inc. has a 52-week low of $70.76 and a 52-week high of $108.98. The company has a market capitalization of $72,832.50, a PE ratio of 19.27, a PEG ratio of 0.93 and a beta of 1.32. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.11 and a current ratio of 1.06.

Lowe's Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, February 28th. The home improvement retailer reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.13). Lowe's Companies had a net margin of 5.02% and a return on equity of 65.17%. The company had revenue of $15.49 billion for the quarter, compared to analysts’ expectations of $15.34 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. equities analysts forecast that Lowe's Companies, Inc. will post 5.47 earnings per share for the current fiscal year.

Lowe's Companies declared that its Board of Directors has approved a share buyback plan on Friday, January 26th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 9th. Investors of record on Wednesday, April 25th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, April 24th. Lowe's Companies’s payout ratio is presently 37.36%.

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About Lowe's Companies

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

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

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