Alkeon Capital Management LLC Sells 423 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Alkeon Capital Management LLC lessened its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 449,078 shares of the home improvement retailer’s stock after selling 423 shares during the quarter. Alkeon Capital Management LLC owned about 0.08% of Lowe’s Companies worth $121,633,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vinva Investment Management Ltd grew its position in shares of Lowe’s Companies by 2.3% in the third quarter. Vinva Investment Management Ltd now owns 6,059 shares of the home improvement retailer’s stock valued at $1,619,000 after purchasing an additional 134 shares during the last quarter. Noesis Capital Mangement Corp boosted its stake in Lowe’s Companies by 2.7% during the 3rd quarter. Noesis Capital Mangement Corp now owns 62,843 shares of the home improvement retailer’s stock valued at $17,021,000 after purchasing an additional 1,647 shares during the period. Public Sector Pension Investment Board grew its holdings in Lowe’s Companies by 11.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 532,194 shares of the home improvement retailer’s stock valued at $144,145,000 after buying an additional 53,340 shares during the last quarter. Fiduciary Trust Co increased its position in Lowe’s Companies by 3.3% in the 3rd quarter. Fiduciary Trust Co now owns 69,961 shares of the home improvement retailer’s stock worth $18,949,000 after buying an additional 2,216 shares during the period. Finally, CreativeOne Wealth LLC increased its position in Lowe’s Companies by 18.5% in the 3rd quarter. CreativeOne Wealth LLC now owns 12,344 shares of the home improvement retailer’s stock worth $3,343,000 after buying an additional 1,924 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $273.19 on Friday. Lowe’s Companies, Inc. has a 52 week low of $196.32 and a 52 week high of $287.01. The stock has a market capitalization of $154.98 billion, a PE ratio of 22.78, a PEG ratio of 2.29 and a beta of 1.10. The stock’s fifty day moving average is $270.04 and its 200-day moving average is $245.85.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Evercore ISI raised their price objective on shares of Lowe’s Companies from $255.00 to $270.00 and gave the stock an “in-line” rating in a research note on Wednesday, November 20th. TD Cowen raised their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Mizuho lifted their target price on Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Piper Sandler boosted their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus target price of $277.92.

Lowe’s Companies Company 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.