Alkeon Capital Management LLC Sells 423 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Alkeon Capital Management LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 449,078 shares of the home improvement retailer’s stock after selling 423 shares during the quarter. Alkeon Capital Management LLC’s holdings in Lowe’s Companies were worth $121,633,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vinva Investment Management Ltd grew its position in shares of Lowe’s Companies by 2.3% during the 3rd quarter. Vinva Investment Management Ltd now owns 6,059 shares of the home improvement retailer’s stock worth $1,619,000 after buying an additional 134 shares during the period. Noesis Capital Mangement Corp grew its holdings in Lowe’s Companies by 2.7% during the third quarter. Noesis Capital Mangement Corp now owns 62,843 shares of the home improvement retailer’s stock valued at $17,021,000 after purchasing an additional 1,647 shares during the period. Public Sector Pension Investment Board increased its stake in Lowe’s Companies by 11.1% in the third quarter. Public Sector Pension Investment Board now owns 532,194 shares of the home improvement retailer’s stock valued at $144,145,000 after purchasing an additional 53,340 shares in the last quarter. Fiduciary Trust Co raised its holdings in Lowe’s Companies by 3.3% in the third quarter. Fiduciary Trust Co now owns 69,961 shares of the home improvement retailer’s stock worth $18,949,000 after purchasing an additional 2,216 shares during the period. Finally, CreativeOne Wealth LLC boosted its position in shares of Lowe’s Companies by 18.5% during the third quarter. CreativeOne Wealth LLC now owns 12,344 shares of the home improvement retailer’s stock worth $3,343,000 after purchasing an additional 1,924 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on LOW. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, November 19th. Gordon Haskett dropped their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Sanford C. Bernstein cut their price objective on Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Royal Bank of Canada increased their target price on Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Down 0.5 %

NYSE LOW opened at $273.19 on Friday. The company has a market cap of $154.98 billion, a PE ratio of 22.78, a PEG ratio of 2.29 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $196.32 and a 12 month high of $287.01. The stock has a 50 day moving average of $270.04 and a 200-day moving average of $245.85.

Lowe’s Companies 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.