SouthState Corp Trims Stake in Lowe’s Companies, Inc. (NYSE:LOW)

SouthState Corp lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 15.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,435 shares of the home improvement retailer’s stock after selling 3,919 shares during the quarter. SouthState Corp’s holdings in Lowe’s Companies were worth $5,290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC lifted its position in Lowe’s Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock valued at $7,045,006,000 after acquiring an additional 2,399,897 shares in the last quarter. State Street Corp lifted its holdings in shares of Lowe’s Companies by 1.9% during the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after buying an additional 460,851 shares during the period. Geode Capital Management LLC raised its holdings in Lowe’s Companies by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after purchasing an additional 187,473 shares during the period. Bank of New York Mellon Corp raised its holdings in Lowe’s Companies by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock worth $1,033,283,000 after purchasing an additional 385,994 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Lowe’s Companies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock worth $853,697,000 after purchasing an additional 90,012 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LOW. Stifel Nicolaus increased their price target on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Guggenheim reiterated a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a research report on Thursday, December 12th. DA Davidson lifted their price target on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Wedbush reissued a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, Sanford C. Bernstein raised their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.83.

Lowe’s Companies Trading Up 0.9 %

NYSE LOW opened at $224.64 on Monday. The firm’s fifty day simple moving average is $250.18 and its two-hundred day simple moving average is $258.63. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01. The firm has a market capitalization of $126.84 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The firm had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

About Lowe’s Companies

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.