5 Best Retail Stocks To Buy Now

In this article, we discuss the 5 best retail stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Retail Stocks To Buy Now.

05. Lowe’s Companies, Inc. (NYSE:LOW)

Number of Hedge Fund Holders: 53

Total Value of Hedge Fund Holdings:  $4,986 Million

Number five on our list is the world’s second largest home improvement retailer Lowe’s Companies, Inc. (NYSE:LOW). From 2018 to 2020, Lowe’s Companies, Inc. (NYSE:LOW) worked to strengthen the foundation of its operations. Today, its attention is on expanding its market share. The macro environment has become more unpredictable due to rising inflation and the hawkish stance of the Federal Reserve, however, the long-term forecast for the home improvement industry is still favourable. The technicals and valuations for Lowe’s Companies, Inc. (NYSE:LOW) appear more favourable at the current price levels.

On August 17, following the Q2 results, Baird analyst Peter Benedict increased his price target for Lowe’s to $235 from $225 and maintained an outperform rating on the shares.

By the end of the second quarter of 2022, 53 hedge funds out of the 895 tracked by Insider Monkey held stakes in Lowe’s Companies, Inc. (NYSE:LOW), worth roughly $4,986 million. This is compared to the previous quarter’s 65 hedge fund holders with a total stake value of roughly $5,511 million.