Czech National Bank Expands Stake in Lowe’s Companies by 4%

The **Czech National Bank** has increased its holdings in **Lowe’s Companies, Inc.** (NYSE: LOW) by **4.0%** during the third quarter of 2023, acquiring an additional **5,528 shares**. This brings its total ownership to **142,340 shares** valued at approximately **$35.77 million** at the close of the quarter, according to a report from HoldingsChannel.

Several institutional investors have also adjusted their positions in Lowe’s Companies recently. Notably, **Brighton Jones LLC** raised its stake by **119.7%** in the fourth quarter, now owning **31,965 shares** worth **$7.89 million** following the purchase of **17,413 shares**. Similarly, **Revolve Wealth Partners LLC** increased its holdings by **31.6%**, resulting in ownership of **1,078 shares** valued at **$266,000** after acquiring an additional **259 shares**.

Other notable changes include **Quantbot Technologies LP**, which initiated a new position in Lowe’s Companies estimated at around **$4.22 million**, and **Colonial Trust Advisors**, which grew its holdings by **11.8%** to **1,408 shares** worth **$328,000**. Lastly, **Vertex Planning Partners LLC** increased its stake by **2.9%** to **1,582 shares**, valued at **$369,000**. Overall, institutional investors control **74.06%** of Lowe’s stock.

Analysts Adjust Price Targets Amid Strong Performance

Equities analysts have recently provided updates on Lowe’s stock performance and price targets. **Stifel Nicolaus** raised its price target from **$230.00** to **$250.00**, maintaining a “hold” rating as of **December 1, 2023**. In contrast, **DA Davidson** reduced its target from **$266.00** to **$250.00**, assigning a “neutral” rating.

Meanwhile, **Truist Financial** set a price target of **$269.00**, and **Robert W. Baird** lowered its target from **$295.00** to **$290.00**, with a rating of “outperform.” Overall, analysts show a mix of optimism and caution, with **16 investment analysts** rating the stock as a Buy, **10** as Hold, and **1** as Sell. According to **MarketBeat**, the consensus rating for Lowe’s is classified as a “Moderate Buy” with a consensus price target of **$276.46**.

Recent Financial Performance and Dividend Announcement

Lowe’s latest earnings report, released on **November 19, 2023**, revealed an earnings per share (EPS) of **$3.06**, surpassing analysts’ expectations of **$2.97** by **$0.09**. The company reported **$20.81 billion** in revenue for the quarter, slightly below analyst estimates of **$20.88 billion**, reflecting a **3.2%** increase compared to the same quarter last year.

The company has set a fiscal year 2025 guidance of **$12.25** EPS. Additionally, Lowe’s announced a quarterly dividend of **$1.20 per share**, scheduled for payment on **February 4, 2024**, to shareholders of record on **January 21, 2024**. This dividend yields **1.9%**, with a payout ratio of **39.80%**.

As of the latest trading session, shares opened at **$247.99**. Lowe’s Companies has a market capitalization of **$139.11 billion** and a price-to-earnings ratio of **20.56**. The stock has fluctuated between a low of **$206.38** and a high of **$274.98** over the past year.

Lowe’s Companies, Inc. operates as a prominent home improvement retailer in the United States, offering a wide range of products for construction, maintenance, and remodeling. The company’s diverse product line includes appliances, outdoor living items, tools, and building materials. As institutional investment continues to shape the company’s prospects, Lowe’s remains a significant player in the retail sector.