Mackenzie Financial Corp Buys 15,517 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Mackenzie Financial Corp grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 14.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,166 shares of the home improvement retailer’s stock after purchasing an additional 15,517 shares during the quarter. Mackenzie Financial Corp’s holdings in Lowe’s Companies were worth $26,743,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LOW. Orion Capital Management LLC acquired a new position in shares of Lowe’s Companies in the third quarter valued at about $26,000. VisionPoint Advisory Group LLC grew its stake in shares of Lowe’s Companies by 85.4% in the third quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Lowe’s Companies in the fourth quarter valued at about $35,000. Itau Unibanco Holding S.A. acquired a new position in shares of Lowe’s Companies in the third quarter valued at about $40,000. Finally, True Wealth Design LLC acquired a new position in shares of Lowe’s Companies in the fourth quarter valued at about $42,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $228.86 on Thursday. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The company has a 50 day simple moving average of $239.29 and a 200 day simple moving average of $218.38. The firm has a market cap of $130.95 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The firm had revenue of $18.60 billion during the quarter, compared to analyst estimates of $18.47 billion. During the same quarter last year, the business earned $2.28 EPS. The company’s revenue was down 17.1% compared to the same quarter last year. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 1.92%. Lowe’s Companies’s payout ratio is 33.43%.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of Lowe’s Companies from $199.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 21st. Zelman & Associates reiterated a “neutral” rating and set a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. increased their price objective on shares of Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Robert W. Baird upgraded shares of Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price objective on the stock in a research note on Wednesday, February 14th. Finally, Mizuho initiated coverage on shares of Lowe’s Companies in a research note on Tuesday, March 19th. They set a “buy” rating and a $280.00 price objective on the stock. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $252.52.

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.