BlackRock Fund Advisors has recently announced that it has increased stake in Lowe’s Companies Inc. (NYSE:LOW) by 0.37%. After grabbing 29.68 million shares, the institutional investor is now in possession of 0.11 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 4.78% having worth around $5.79 billion. Moreover, Geode Capital Management LLC increased its share by 95938.0 to have a control over 11.19 million shares. And Massachusetts Financial Services raised its holdings to 0.91 million shares by acquiring 7.92 million shares or 1.27% of the stake.
Lowe’s Companies Inc. (LOW) concluded trading on 11/17/22 at a closing price of $208.40, with 3.5 million shares of worth about $729.3 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 10.93% during that period and on Thursday the price saw a loss of about -3.13%. Currently the company’s common shares owned by public are about 638.00M shares, out of which, 619.99M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 32 analysts are covering the LOW stock and their offered price forecasts bring an average price target of $239.16. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $300.00 and could fall to a lowest price of $152.00. The stock’s current price level is 11.34% above of average price target set by the analysts, while a rise to estimated low would result in loss of -37.11% for the stock. However, touching the estimated high of $300.00 would mean a gain of 30.53% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 50 times over the past 12 months. They bought 354,554 shares in 22 of the transactions. In 28 selling transactions, insiders dumped 245,365 shares.
Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Pershing Square Holdings Ltd. are the top 3 mutual funds which are holding stakes in Lowe’s Companies Inc. Vanguard Total Stock Market Index is currently holding 18.53 million shares of worth totaling $3.61 billion. The company recently came selling -0.81 million shares which brought its stake up to 2.99% of the company’s outstanding shares. Vanguard 500 Index Fund sold -0.37 million shares, after which its hold over company’s outstanding shares shrunk to 2.33%, leaving 14.48 million shares with the mutual fund that have a worth of about $2.82 billion. Pershing Square Holdings Ltd., after selling 9.06 million shares, have now control over 1.46% of the stake in the company. It holds -1.54 million shares of worth $1.77 billion.
Lowe’s Companies Inc. (NYSE: LOW) started trading at $212.50, below -$2.63 from concluding price of the previous day. However, the stock later moved at a day high price of 212.99, or with a loss of -3.13%. Stock saw a price change of 2.00% in past 5 days and over the past one month there was a price change of 13.30%. Year-to-date (YTD), LOW shares are showing a performance of -19.37% which decreased to -15.19% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $170.12 but also hit the highest price of $263.31 during that period. The average intraday trading volume for Lowe’s Companies Inc. shares is 3.88 million. The stock is currently trading 7.76% above its 20-day simple moving average (SMA20), while that difference is up 7.69% for SMA50 and it goes to 4.19% higher than SMA200.
BlackRock Fund Advisors acquired 29.68 million shares of Lowe’s Companies Inc. having value of about $5.79 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.11 million shares in the company valued at close to $23061960.8, or have control over 0.37% stake in the company. Lowe’s Companies Inc. (NYSE: LOW) currently have 638.00M outstanding shares and institutions hold larger chunk of about 79.10% of that. Holding of mutual funds in the company is about 38.05% while other institutional holders and individual stake holders have control over 39.79% and 1.29% of the stake respectively.
The stock has a current market capitalization of $126.44B and its 3Y-monthly beta is at 1.14. PE ratio of stock for trailing 12 months is 16.43, while it has posted earnings per share of $12.68 in the same period. Its PEG reads 1.75 and has Quick Ratio of 0.20. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LOW, volatility over the week remained 3.67% while standing at 3.43% over the month.
Analysts are in expectations that Lowe’s Companies Inc. (LOW) stock would likely to be making an EPS of $3.08 in the current quarter, while forecast for next quarter EPS is $2.19 and it is $14.45 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.95 which is $3.22 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.73 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 55.30% while it is estimated to increase by 5.72% in next year. EPS is likely to shrink at an annualized rate of 9.40% for next 5-years, compared to annual growth of 28.20% made by the stock over the past 5-years.
Analysts at 32 brokerage firms have issued recommendations for the Lowe’s Companies Inc. (LOW)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 32 Wall Street analysts, 15 recommended a “Buy” rating, while 13 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Cowen on October 19, 2022 offering a Market perform rating for the stock and assigned a target price of $210 to it. Coverage by Exane BNP Paribas stated Lowe’s Companies Inc. (LOW) stock as an Underperform in their note to investors on October 19, 2022, suggesting a price target of $159 for the stock. On October 19, 2022, Evercore ISI Downgrade their recommendations, while on August 18, 2022, Wedbush Reiterated their ratings for the stock with a price target of $225. Stock get a Buy rating from UBS on August 18, 2022.