What Hedge Funds Think About Lowe’s Companies, Inc. (LOW)

Consequently, some big names were leading the bulls’ herd. Viking Global, managed by Andreas Halvorsen, assembled the biggest position in Lowe’s Companies, Inc. (NYSE:LOW). Viking Global had $195.5 million invested in the company at the end of the quarter.  Melvin Capital Management also made a $79.4 million investment in the stock during the quarter. The following funds were also among the new LOW investors: Ken Griffin’s Citadel Investment Group, Curtis Macnguyen’s Ivory Capital (Investment Mgmt), and Alok Agrawal’s Bloom Tree Partners.

Let’s check out hedge fund activity in other stocks similar to Lowe’s Companies, Inc. (NYSE:LOW). We will take a look at U.S. Bancorp (NYSE:USB), Danaher Corporation (NYSE:DHR), Costco Wholesale Corporation (NASDAQ:COST), and BHP Billiton plc (ADR) (NYSE:BBL). This group of stocks’ market caps are closest to LOW’s market cap.

As you can see these stocks had an average of 41 funds with bullish positions and the average amount invested in these stocks was $2.33 billion at the end of September. That figure was $3.27 billion in LOW’s case. Danaher Corporation (NYSE:DHR) is the most popular stock in this table. On the other hand BHP Billiton plc (ADR) (NYSE:BBL) is the least popular one with only 18 bullish hedge fund positions. Compared to these stocks Lowe’s Companies, Inc. (NYSE:LOW) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.