Lowe’s Companies, Inc. (NYSE:LOW) Short Interest Update

Lowe’s Companies, Inc. (NYSE:LOW) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 7,010,000 shares, a drop of 23.6% from the August 15th total of 9,180,000 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 2,580,000 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Trading of Lowe’s Companies

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 shares during the last quarter. Norges Bank acquired a new stake in Lowe’s Companies during the fourth quarter valued at approximately $1,638,746,000. Legal & General Group Plc boosted its holdings in Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after buying an additional 82,978 shares in the last quarter. Schroder Investment Management Group grew its position in Lowe’s Companies by 1.9% in the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after buying an additional 52,859 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after buying an additional 493,180 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $255.41 on Monday. The business has a 50 day simple moving average of $240.11 and a 200 day simple moving average of $234.75. The firm has a market capitalization of $144.89 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. Lowe’s Companies has a 12-month low of $181.85 and a 12-month high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the company earned $4.56 EPS. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities analysts anticipate that Lowe’s Companies will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 36.95%.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. UBS Group upped their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Bank of America cut their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Wells Fargo & Company lowered their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Finally, Piper Sandler cut their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $252.83.

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.