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


Lowe’s Companies, Inc. (NYSE:LOWGet Rating) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 11,470,000 shares, a growth of 7.2% from the October 31st total of 10,700,000 shares. Based on an average daily volume of 3,750,000 shares, the days-to-cover ratio is currently 3.1 days. Approximately 1.9% of the shares of the company are sold short.

Lowe’s Companies Trading Down 0.3 %

LOW stock traded down $0.64 during mid-day trading on Friday, hitting $214.84. The stock had a trading volume of 3,242,449 shares, compared to its average volume of 3,329,384. Lowe’s Companies has a 52 week low of $170.12 and a 52 week high of $263.31. The firm has a market capitalization of $133.35 billion, a P/E ratio of 21.04, a P/E/G ratio of 1.18 and a beta of 1.16. The firm has a fifty day simple moving average of $197.52 and a 200 day simple moving average of $193.65.

Lowe’s Companies (NYSE:LOWGet Rating) last posted its quarterly earnings results on Wednesday, November 16th. The home improvement retailer reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.16. Lowe’s Companies had a net margin of 6.97% and a negative return on equity of 103.72%. The company had revenue of $23.48 billion for the quarter, compared to the consensus estimate of $23.16 billion. During the same period last year, the company posted $2.73 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that Lowe’s Companies will post 13.77 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, January 24th. This represents a $4.20 annualized dividend and a yield of 1.95%. Lowe’s Companies’s dividend payout ratio is presently 41.14%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wedbush dropped their price objective on shares of Lowe’s Companies to $190.00 in a research report on Wednesday, November 16th. Citigroup dropped their price objective on shares of Lowe’s Companies from $217.00 to $215.00 in a research report on Monday, October 31st. Robert W. Baird increased their price objective on shares of Lowe’s Companies from $230.00 to $250.00 in a research report on Thursday, November 17th. Cowen assumed coverage on shares of Lowe’s Companies in a research report on Wednesday, October 19th. They issued a “market perform” rating and a $210.00 price objective on the stock. Finally, UBS Group increased their price objective on shares of Lowe’s Companies from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.35.

Institutional Investors Weigh In On Lowe’s Companies

Several hedge funds have recently added to or reduced their stakes in the business. Pershing Square Capital Management L.P. boosted its position in Lowe’s Companies by 1.6% during the 3rd quarter. Pershing Square Capital Management L.P. now owns 10,374,801 shares of the home improvement retailer’s stock worth $1,948,491,000 after buying an additional 167,495 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Lowe’s Companies by 13.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,916,354 shares of the home improvement retailer’s stock worth $1,486,770,000 after purchasing an additional 912,518 shares during the last quarter. Wellington Management Group LLP raised its holdings in Lowe’s Companies by 3.2% during the 1st quarter. Wellington Management Group LLP now owns 6,675,859 shares of the home improvement retailer’s stock worth $1,349,793,000 after purchasing an additional 205,858 shares during the last quarter. Invesco Ltd. raised its holdings in Lowe’s Companies by 13.0% during the 1st quarter. Invesco Ltd. now owns 5,809,836 shares of the home improvement retailer’s stock worth $1,174,691,000 after purchasing an additional 666,437 shares during the last quarter. Finally, Egerton Capital UK LLP raised its holdings in Lowe’s Companies by 56.2% during the 1st quarter. Egerton Capital UK LLP now owns 3,610,961 shares of the home improvement retailer’s stock worth $730,100,000 after purchasing an additional 1,299,622 shares during the last quarter. 74.04% of the stock is currently owned by institutional investors and hedge funds.

About Lowe’s Companies

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Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.

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