雅虎香港財經 What Makes Lowe’s Companies (LOW) Shares Attractive?
Baron Funds, an investment management company, released its “Baron Real Estate Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 4.86% (Institutional Shares) compared to a 4.99% decline for its primary benchmark, the MSCI USA IMI Extended Real Estate Index. At the same time, the fund outperformed the MSCI US REIT Index, which fell 10.28% in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Funds highlighted stocks like Lowe’s Companies, Inc. (NYSE:LOW) in the Q3 2022 investor letter. Based in Mooresville, North Carolina, Lowe’s Companies, Inc. (NYSE:LOW) is a home improvement retailer. On November 18, 2022, Lowe’s Companies, Inc. (NYSE:LOW) stock closed at $209.93 per share. One-month return of Lowe’s Companies, Inc. (NYSE:LOW) was 7.90%, and its shares lost 16.81% of their value over the last 52 weeks. Lowe’s Companies, Inc. (NYSE:LOW) has a market capitalization of $128.267 billion.
Baron Funds made the following comment about Lowe’s Companies, Inc. (NYSE:LOW) in its Q3 2022 investor letter:
“Lowe’s Companies, Inc. (NYSE:LOW) is the second-largest home improvement center in the U.S. The company has several competitive advantages including scale, distribution efficiencies, interconnected retail through stores/internet, excellent management, and a strong balance sheet. The company is valued at only 14 times estimated earnings per share versus its long-term average P/E multiple of approximately 18 times estimated earnings per share.
The shares of Lowe’s Companies, Inc. increased 7% in the most recent quarter following better better-than-expected quarterly business results. Lowe’s is the second largest home improvement center in the U.S. The company has several competitive advantages including scale, distribution efficiencies, interconnected retail through stores/internet, excellent management, and a strong balance sheet. We believe the shares are attractively valued at only 14 times estimated earnings per share versus a long-term average P/E multiple of approximately 18 times estimated earnings per share.”
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Lowe’s Companies, Inc. (NYSE:LOW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 61 hedge fund portfolios held Lowe’s Companies, Inc. (NYSE:LOW) at the end of the third quarter which was 53 in the previous quarter.
We discussed Lowe’s Companies, Inc. (NYSE:LOW) in another article and shared the top dividend kings by yield. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
