JPMorgan Investment Management, I has recently announced that it has increased stake in Lowe’s Cos., Inc. (NYSE:LOW) by 7.45%. After grabbing 21.16 million shares, the institutional investor is now in possession of 1.47 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 3.67% having worth around $4.21 billion. Moreover, Geode Capital Management LLC increased its share by 61138.0 to have a control over 11.05 million shares. And Norges Bank Investment Management raised its holdings to 0.19 million shares by acquiring 7.33 million shares or 1.27% of the stake.
Lowe’s Cos., Inc. (LOW) concluded trading on December 20, 2023 at a closing price of $222.01, with 3.72 million shares of worth about $826.82 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 3.35% during that period and On Wednesday the price saw a loss of about -1.51%. Currently the company’s common shares owned by public are about 601.00M shares, out of which, 574.58M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 44 times over the past 12 months. They bought 378,774 shares in 23 of the transactions. In 21 selling transactions, insiders dumped 243,944 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Pershing Square Holdings Ltd. are the top 3 mutual funds which are holding stakes in Lowe’s Cos., Inc. Vanguard Total Stock Market ETF is currently holding 18.21 million shares of worth totaling $3.62 billion. The company recently came buying 85770.0 shares which brought its stake up to 3.16% of the company’s outstanding shares. Vanguard 500 Index Fund bought 69238.0 shares, after which its hold over company’s outstanding shares expand to 2.45%, leaving 14.15 million shares with the mutual fund that have a worth of about $2.81 billion. Pershing Square Holdings Ltd., after buying 9.06 million shares, have now control over 1.57% of the stake in the company. It holds 0.0 shares of worth $1.8 billion.
However, the stock later moved at a day high price of 224.73, or with a loss of -1.51%. Stock saw a price change of 3.04% in past 5 days and over the past one month there was a price change of 8.59%. Year-to-date (YTD), LOW shares are showing a performance of 11.43% which increased to 9.27% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $181.85 but also hit the highest price of $237.21 during that period. The average intraday trading volume for Lowe’s Cos., Inc. shares is 2.96 million. The stock is currently trading 6.54% above its 20-day simple moving average (SMA20), while that difference is up 10.95% for SMA50 and it goes to 5.74% higher than SMA200.
JPMorgan Investment Management, I acquired 21.16 million shares of Lowe’s Cos., Inc. having value of about $4.21 billion. Data submitted at the U.S SEC by JPMorgan Investment Management, I revealed that the firm now holds 1.47 million shares in the company valued at close to $325826760.22, or have control over 7.45% stake in the company. Lowe’s Cos., Inc. (NYSE: LOW) currently have 601.00M outstanding shares and institutions hold larger chunk of about 76.46% of that. Holding of mutual funds in the company is about 36.60% while other institutional holders and individual stake holders have control over 40.28% and 1.41% of the stake respectively.
The stock has a current market capitalization of $127.68B and its 3Y-monthly beta is at 1.09. PE ratio of stock for trailing 12 months is 17.11, while it has posted earnings per share of $12.98 in the same period. Its PEG reads 3.89 and has Quick Ratio of 0.15. 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 1.62% while standing at 1.79% over the month.
Analysts are in expectations that Lowe’s Cos., Inc. (LOW) stock would likely to be making an EPS of $1.67 in the current quarter, while forecast for next quarter EPS is $3.47 and it is $12.88 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.58 which is $1.83 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 $2.28 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -5.15% while it is estimated to decrease by -1.39% in next year. EPS is likely to shrink at an annualized rate of 4.40% for next 5-years, compared to annual growth of 19.98% made by the stock over the past 5-years.
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 Stifel on Dec-21-23 offering a Hold rating for the stock and assigned a target price range of between $235 and $240 to it.
