Should You Hold Lowe’s Companies (LOW) for the Long Term?

Madison Investments, an investment advisor, released its “Madison Investors Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, Fund (class Y) declined -1.3% compared to a -3.3% decline for the S&P 500 Index benchmark.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Investors Fund highlighted stocks like Lowe’s Companies, Inc. (NYSE:LOW) in the third quarter 2023 investor letter. Headquartered in Mooresville, North Carolina, Lowe’s Companies, Inc. (NYSE:LOW) is a home improvement retailer. On October 27, 2023, Lowe’s Companies, Inc. (NYSE:LOW) stock closed at $183.62 per share. One-month return of Lowe’s Companies, Inc. (NYSE:LOW) was -10.75%, and its shares lost 5.81% of their value over the last 52 weeks. Lowe’s Companies, Inc. (NYSE:LOW) has a market capitalization of $105.97 billion.

Madison Investors Fund made the following comment about Lowe’s Companies, Inc. (NYSE:LOW) in its Q3 2023 investor letter:

“The bottom five individual contributors were Dollar Tree, Fiserv, Analog Devices, Lowe’s Companies, Inc. (NYSE:LOW), and Alcon. Both Analog Devices and Lowe’s Companies saw end-market demand moderate (in semiconductors and home improvement products, respectively) relative to the strong levels over the last couple of years. Despite these near-term trends, we remain very confident in the long-term trends within both markets.”

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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, 64 hedge fund portfolios held Lowe’s Companies, Inc. (NYSE:LOW) at the end of second quarter which was 67 in the previous quarter.

We discussed Lowe’s Companies, Inc. (NYSE:LOW) in another article and shared the list of best dividend aristocrats according to analysts. In addition, please check out our hedge fund investor letters Q3 2023 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.