Lowe's Companies, Inc., commonly known as Lowe's, is an American home improvement retail chain operating 1,740 stores in the United States, Canada, and Mexico. Founded in 1946 by Lucius Lowe, Lowe's has grown into one of the largest home improvement retailers in the world, with annual sales of $68.6 billion. The company is headquartered in Mooresville, North Carolina.
Lowe's is a publicly traded company, with its shares listed on the New York Stock Exchange under the symbol LOW. As of June 2023, Lowe's has a market capitalization of $128 billion. The company's largest shareholders are institutional investors, including The Vanguard Group, Inc., BlackRock Fund Advisors, and State Street Global Advisors, Inc.
Although Lowe's is primarily owned by institutional investors, the company has a long history of being family-owned and operated. Lucius Lowe, the founder of Lowe's, ran the company until his death in 1986. His son, Robert Lowe, then took over as CEO and president, serving until 2001. The company has been led by several other executives since then, but the Lowe family has remained involved in its ownership and operation.
Who Is the Owner of Lowe's?
Lowe's is a publicly traded company with many shareholders.
- Largest shareholder: Vanguard Group
- Founded in 1946 by Lucius Lowe
- Headquarters in Mooresville, NC
- 1,740 stores in US, Canada, Mexico
- $68.6 billion in annual sales
- $128 billion market capitalization
- Lowe family still involved in ownership
- Shares listed on NYSE under symbol LOW
Lowe's is a major home improvement retailer with a long history of providing quality products and services to its customers.
Largest: Vanguard Group
The Vanguard Group, Inc. is the largest institutional shareholder of Lowe's Companies, Inc., with a stake of 8.4% as of June 2023. This makes Vanguard the single largest owner of Lowe's, with more shares than any other individual or institution.
Vanguard is a global investment management company headquartered in Valley Forge, Pennsylvania. It is one of the largest mutual fund companies in the world, with over $8 trillion in assets under management. Vanguard is known for its low-cost index funds and exchange-traded funds (ETFs), which are popular among investors for their low fees and broad diversification.
Vanguard's ownership of Lowe's is through its various index funds and ETFs, which track the performance of broad market indexes such as the S&P 500 and the Russell 1000. Because Lowe's is a component of these indexes, Vanguard's funds automatically invest in Lowe's shares.
Vanguard's ownership of Lowe's is a testament to the company's strong financial performance and its position as a leader in the home improvement retail industry. Lowe's has a long history of profitability and growth, and it is expected to continue to be a major player in the home improvement market for many years to come.
Founded in 1946 by Lucius Lowe
Lowe's Companies, Inc. was founded in 1946 by Lucius Lowe, a North Carolina native with a passion for home improvement.
- Humble beginnings:
Lowe opened his first store in North Wilkesboro, North Carolina, with just $500 in capital.
- Early success:
Lowe's store quickly became a success, thanks to Lowe's focus on customer service and his commitment to selling high-quality products at affordable prices.
- Expansion:
In the years that followed, Lowe's expanded rapidly, opening new stores across North Carolina and into neighboring states.
- National retailer:
By the 1970s, Lowe's had become a national retailer, with stores in over 20 states.
Lowe's continued to grow and prosper under the leadership of Lucius Lowe and his son, Robert Lowe, who took over as CEO in 1986. Today, Lowe's is one of the largest home improvement retailers in the world, with over 1,700 stores in the United States, Canada, and Mexico.
Headquarters in Mooresville, NC
Lowe's Companies, Inc. is headquartered in the town of Mooresville, North Carolina, which is located about 30 miles north of Charlotte.
- Central location:
Mooresville is a centrally located city in the southeastern United States, making it an ideal location for Lowe's headquarters.
- Transportation hub:
Mooresville is located near several major highways and interstates, making it easy for employees and customers to access the city.
- Business-friendly environment:
Mooresville is a pro-business city with a supportive local government and a skilled workforce.
- Home to Lowe's employees:
Mooresville is home to many Lowe's employees, including executives, managers, and support staff.
Lowe's headquarters in Mooresville is a modern and spacious facility that houses the company's executive offices, administrative departments, and a state-of-the-art distribution center. The headquarters campus is also home to the Lowe's Innovation Center, where the company develops new products and technologies for its stores.
1,740 stores in US, Canada, Mexico
As of June 2023, Lowe's Companies, Inc. operates 1,740 stores in the United States, Canada, and Mexico.
- United States:
The vast majority of Lowe's stores are located in the United States, with over 1,700 stores in all 50 states.
- Canada:
Lowe's has 33 stores in Canada, primarily located in the provinces of Ontario, Quebec, and Alberta.
- Mexico:
Lowe's has 7 stores in Mexico, all of which are located in the northern border state of Chihuahua.
- Global expansion:
Lowe's is considering expanding into other countries in the future, but the company has not yet announced any concrete plans.
Lowe's stores range in size from small neighborhood stores to large home improvement superstores. The company's stores offer a wide variety of products for home repair, maintenance, and improvement, including tools, building materials, appliances, and lawn and garden supplies.
$68.6 billion in annual sales
In the fiscal year 2022, Lowe's Companies, Inc. generated $68.6 billion in annual sales.
- Strong demand:
Lowe's strong sales are driven by the continued demand for home improvement products and services.
- Store growth:
Lowe's is expanding its store base, which is contributing to its sales growth.
- E-commerce sales:
Lowe's is also growing its e-commerce sales, which now account for a significant portion of the company's total sales.
- Customer loyalty:
Lowe's has a loyal customer base, which helps to drive repeat business.
Lowe's is one of the most successful home improvement retailers in the world, and its strong sales are a testament to the company's commitment to providing customers with the products and services they need to improve their homes.
$128 billion market capitalization
As of June 2023, Lowe's Companies, Inc. has a market capitalization of $128 billion.
- Company value:
Market capitalization is a measure of a company's total value, calculated by multiplying the number of outstanding shares by the current share price.
- Strong financial performance:
Lowe's strong financial performance, including its consistent sales growth and profitability, has contributed to its high market capitalization.
- Investor confidence:
Lowe's market capitalization is also a reflection of investor confidence in the company's future prospects.
- Industry leader:
Lowe's is a leader in the home improvement retail industry, which is a growing and profitable sector.
Lowe's market capitalization makes it one of the most valuable companies in the United States. This is a testament to the company's strong brand recognition, its loyal customer base, and its bright future prospects.
Lowe family still involved in ownership
Despite being a publicly traded company, the Lowe family still maintains a significant ownership stake in Lowe's Companies, Inc.
- Family members on board of directors:
Several members of the Lowe family serve on the company's board of directors, including Robert Lowe, the son of founder Lucius Lowe.
- Significant shareholders:
The Lowe family also owns a significant number of Lowe's shares, making them one of the company's largest shareholders.
- Continued involvement:
The Lowe family remains actively involved in the company's operations and decision-making.
- Commitment to the company:
The Lowe family's continued involvement in the company is a testament to their commitment to the business and their belief in its future success.
The Lowe family's involvement in Lowe's is a unique and important aspect of the company's history and culture. It is a reminder that Lowe's is a family-founded and family-run business, with a strong commitment to its customers and employees.
Shares listed on NYSE under symbol LOW
Lowe's Companies, Inc. shares are listed on the New York Stock Exchange (NYSE) under the symbol LOW.
- NYSE:
The NYSE is the largest stock exchange in the world, and it is home to some of the most well-known companies in the world.
- Stock symbol:
A stock symbol is a unique identifier for a company's stock. Lowe's stock symbol is LOW.
- Trading:
Lowe's shares are traded on the NYSE, which means that investors can buy and sell shares of Lowe's stock.
- Public ownership:
Lowe's shares are publicly traded, which means that anyone can buy and sell shares of Lowe's stock.
Lowe's shares are a popular investment among individual investors and institutional investors alike. The company's strong financial performance and its position as a leader in the home improvement retail industry make it an attractive investment.
FAQ
Here are some frequently asked questions about the ownership of Lowe's:
Question 1:
Who founded Lowe's?
Answer:
Lowe's was founded in 1946 by Lucius Lowe.
Question 2:
Who is the current CEO of Lowe's?
Answer:
Marvin R. Ellison is the current CEO of Lowe's.
Question 3:
How many stores does Lowe's have?
Answer:
As of June 2023, Lowe's has 1,740 stores in the United States, Canada, and Mexico.
Question 4:
What is the annual revenue of Lowe's?
Answer:
In the fiscal year 2022, Lowe's generated $68.6 billion in annual sales.
Question 5:
Who is the largest shareholder of Lowe's?
Answer:
The Vanguard Group is the largest shareholder of Lowe's, with a stake of 8.4% as of June 2023.
Question 6:
Is Lowe's a publicly traded company?
Answer:
Yes, Lowe's is a publicly traded company, with its shares listed on the New York Stock Exchange under the symbol LOW.
Question 7:
Is the Lowe family still involved in the ownership of Lowe's?
Answer:
Yes, the Lowe family still maintains a significant ownership stake in Lowe's Companies, Inc.
Closing Paragraph:
These are just a few of the frequently asked questions about the ownership of Lowe's. For more information, please visit the Lowe's website or contact the company directly.
In addition to the information provided in the FAQ, here are some additional tips for researching the ownership of Lowe's:
Tips
Here are some practical tips for researching the ownership of Lowe's:
Tip 1: Check the company's website.
Lowe's website contains a wealth of information about the company, including its history, financial performance, and ownership structure. You can find this information in the company's annual report, proxy statement, and other SEC filings.
Tip 2: Use a financial data provider.
Financial data providers such as Bloomberg, Reuters, and Morningstar provide detailed information about the ownership of public companies. You can use these services to find out who the largest shareholders of Lowe's are and how much of the company they own.
Tip 3: Read news articles and financial blogs.
News articles and financial blogs often contain valuable information about the ownership of public companies. Keep an eye out for articles that discuss Lowe's ownership structure or any changes to the company's shareholder base.
Tip 4: Contact the company directly.
If you have any specific questions about the ownership of Lowe's, you can contact the company directly. Lowe's has a dedicated investor relations department that can provide you with information about the company's shareholders and ownership structure.
Closing Paragraph:
By following these tips, you can learn more about the ownership of Lowe's and stay up-to-date on any changes to the company's shareholder base.
Now that you know who owns Lowe's, you may be wondering what the future holds for the company. In the next section, we'll discuss Lowe's recent performance and its plans for the future.
Conclusion
Lowe's is a publicly traded company with a long history of being family-owned and operated. The company was founded in 1946 by Lucius Lowe, and his family remains actively involved in its ownership and operation today. Lowe's is the second-largest home improvement retailer in the United States, with over 1,700 stores in North America. The company has a strong financial performance, with annual sales of over $68 billion and a market capitalization of over $128 billion.
Lowe's is a major player in the home improvement industry, and its ownership structure is a key factor in its success. The company's strong family ties have helped to create a culture of innovation and customer service. Lowe's is also committed to giving back to the communities it serves, and it has a long history of supporting local charities and organizations.
As Lowe's continues to grow and expand, it is likely that the company's ownership structure will remain largely unchanged. The Lowe family is committed to the company's long-term success, and they are confident that Lowe's will continue to be a leader in the home improvement industry for many years to come.
Closing Message:
Lowe's is a great example of a successful family-owned and operated business. The company's strong financial performance and its commitment to customer service are a testament to the hard work and dedication of the Lowe family and its employees. Lowe's is a valuable asset to the communities it serves, and it is likely to continue to be a major player in the home improvement industry for many years to come.