Bill Ackman’s Pershing Square Portfolio: Top 3 Stock Picks

1. Lowe’s Companies, Inc. (NYSE:LOW)

Bill Ackman’s Pershing Square’s Stake Value: $2,076,571,000

Percentage of Bill Ackman’s Pershing Square’s 13F Portfolio: 21.94%

Number of Hedge Funds: 60

Lowe’s Companies, Inc. (NYSE:LOW) is one of the biggest home improvement retailers in the world. The Mooresville, North Carolina-based corporation entertains 20 million customers per week through its retail presence in 2,200 locations across the US and Canada. The company has a workforce of over 300,000 employees. Lowe’s Companies, Inc. (NYSE:LOW) provides a wide range of products for construction, decorating, maintenance, repair, and remodeling to do-it-yourself (DIY) customers or professional contractors.

On January 18, Steven Zaccone at Citi increased the price target on Lowe’s Companies, Inc. (NYSE:LOW) from $270 to $292 and maintained a Buy rating on the stock. The analyst thinks that the investor sentiment has shifted to “defensive, stable margin businesses” like automobile parts retail and home improvement. Zaccone sees very low chances of error in regards to valuation for the hardlines retailing entities. The analyst also expects attractive risk and reward opportunities for long-term investors following the recent decline in the stock price of growth stocks.

In the last year, the stock price of Lowe’s Companies Inc. (NYSE:LOW) has increased by over 36% and has outperformed the S&P 500 Index, which experienced an increase of nearly 21.5% during the same period.

The hedge fund restarted a long position in Lowe’s Companies, Inc. (NYSE:LOW) in Q2 2018 with 7.72 million shares. Lowe’s Companies, Inc. (NYSE:LOW) is also a member of the Dividend Aristocrat list as it has been increasing its dividend for the past 47 consecutive years. The stock’s one-year forward dividend yield stands at 1.36% as of January 20.

You can also take a peek at the 11 Best Robotics Stocks To Buy For 2022 and 10 Best Fertilizer Stocks To Buy Now.

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