BNP Paribas Arbitrage SA Has $27,834,000 Stake in Lowe’s Cos. (LOW)
BNP Paribas Arbitrage SA reduced its position in Lowe’s Cos. (NYSE:LOW) by 0.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 385,453 shares of the home improvement retailer’s stock after selling 200 shares during the period. BNP Paribas Arbitrage SA’s holdings in Lowe’s Cos. were worth $27,834,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the company. Lynch & Associates IN boosted its position in shares of Lowe’s Cos. by 1.6% in the third quarter. Lynch & Associates IN now owns 35,957 shares of the home improvement retailer’s stock worth $2,596,000 after buying an additional 575 shares in the last quarter. Beacon Financial Group boosted its stake in shares of Lowe’s Cos. by 7.5% in the third quarter. Beacon Financial Group now owns 32,180 shares of the home improvement retailer’s stock valued at $2,317,000 after buying an additional 2,234 shares during the last quarter. Carnick & Kubik Group LLC purchased a new stake in shares of Lowe’s Cos. during the second quarter valued at approximately $2,239,000. Williams Jones & Associates LLC boosted its stake in shares of Lowe’s Cos. by 1,487.6% in the second quarter. Williams Jones & Associates LLC now owns 138,088 shares of the home improvement retailer’s stock valued at $10,932,000 after buying an additional 129,390 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Lowe’s Cos. during the second quarter valued at approximately $2,833,000. 75.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lowe’s Cos. (NYSE:LOW) traded up 2.00% during trading on Friday, reaching $69.31. 10,624,567 shares of the company were exchanged. Lowe’s Cos. has a 1-year low of $62.62 and a 1-year high of $83.65. The company’s 50-day moving average is $69.73 and its 200 day moving average is $75.98. The firm has a market capitalization of $60.51 billion, a PE ratio of 25.44 and a beta of 1.25.
Lowe’s Cos. (NYSE:LOW) last released its quarterly earnings data on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.96 by $0.08. Lowe’s Cos. had a net margin of 3.91% and a return on equity of 46.46%. The business had revenue of $15.70 billion for the quarter, compared to the consensus estimate of $15.86 billion. During the same quarter in the prior year, the business posted $0.80 earnings per share. Lowe’s Cos.’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts expect that Lowe’s Cos. will post $3.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Stockholders of record on Wednesday, January 25th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, January 23rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.02%. Lowe’s Cos.’s dividend payout ratio is presently 51.28%.
A number of research analysts have weighed in on LOW shares. Vetr downgraded Lowe’s Cos. from a “buy” rating to a “hold” rating and set a $85.38 price target for the company. in a research note on Thursday, July 28th. Jefferies Group reissued a “hold” rating and set a $81.00 price target on shares of Lowe’s Cos. in a report on Thursday, August 18th. Nomura set a $80.00 price target on Lowe’s Cos. and gave the stock a “hold” rating in a report on Thursday, August 18th. Zacks Investment Research cut Lowe’s Cos. from a “buy” rating to a “hold” rating in a report on Wednesday, October 26th. Finally, BMO Capital Markets reissued a “buy” rating on shares of Lowe’s Cos. in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $82.36.
About Lowe’s Cos.
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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