Allstate Corp Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

Allstate Corp purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,803 shares of the home improvement retailer’s stock, valued at approximately $4,147,000.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $1,842,954,000. Raymond James Financial Inc. acquired a new stake in shares of Lowe’s Companies in the 4th quarter worth $314,435,000. Strategic Financial Concepts LLC boosted its position in shares of Lowe’s Companies by 24,531.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,228,102 shares of the home improvement retailer’s stock valued at $303,096,000 after acquiring an additional 1,223,116 shares during the last quarter. Amundi grew its holdings in shares of Lowe’s Companies by 60.1% in the fourth quarter. Amundi now owns 2,603,305 shares of the home improvement retailer’s stock valued at $642,730,000 after purchasing an additional 976,823 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in Lowe’s Companies by 42,529.8% during the fourth quarter. Proficio Capital Partners LLC now owns 846,202 shares of the home improvement retailer’s stock worth $208,843,000 after purchasing an additional 844,217 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday. Sanford C. Bernstein lifted their target price on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Mizuho lowered their price target on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, Bank of America reduced their price objective on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.71.

Lowe’s Companies Stock Performance

Shares of LOW opened at $228.20 on Friday. The stock has a 50-day simple moving average of $245.57 and a 200-day simple moving average of $257.24. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The stock has a market capitalization of $127.73 billion, a PE ratio of 19.03, a PEG ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. Analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 37.67%.

Lowe’s Companies Company Profile

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.