filings.toolsItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Lowe’s common stock is traded on the New York Stock Exchange (NYSE). The ticker symbol for Lowe’s is “LOW”. As of March 29, 2019, there were 22,326 holders of record of Lowe’s common stock.
Total Return to Shareholders
The following information in Item 5 of this Annual Report is not deemed to be “soliciting material” or to be “filed” with the SEC or subject to Regulation 14A or 14C under the Securities Exchange Act of 1934 or to the liabilities of Section 18 of the Securities Exchange Act of 1934, and will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent we specifically incorporate it by reference into such a filing.
The following table and graph compare the total returns (assuming reinvestment of dividends) of the Company’s common stock, the S&P 500 Index (S&P 500) and the S&P Retailing Industry Group Index (S&P Retail Index). The graph assumes $100 invested on January 31, 2014 in the Company’s common stock and each of the indices.
| 1/31/2014 | 1/30/2015 | 1/29/2016 | 2/3/2017 | 2/2/2018 | 2/1/2019 | ||||||||||||||||||
| Lowe’s | $ | 100.00 | $ | 148.79 | $ | 159.77 | $ | 166.32 | $ | 234.64 | $ | 228.98 | |||||||||||
| S&P 500 | 100.00 | 114.22 | 113.46 | 137.36 | 168.46 | 168.36 | |||||||||||||||||
| S&P Retail Index | $ | 100.00 | $ | 118.75 | $ | 137.22 | $ | 159.62 | $ | 225.15 | $ | 241.71 |
Issuer Purchases of Equity Securities
The following table sets forth information with respect to purchases of the Company’s common stock made during the fourth quarter of fiscal 2018:
| Total Number of Shares Purchased 1 | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs 2 | Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs 2 | ||||||||||
| November 3, 2018 – November 30, 20183 | 3,421,699 | $ | 90.33 | 3,421,143 | $ | 4,123,763,667 | |||||||
| December 1, 2018 – January 4, 2019 | 1,159,359 | 91.19 | 1,059,707 | 14,027,232,040 | |||||||||
| January 5, 2019 – February 1, 2019 | 872,707 | 94.56 | 872,036 | 13,944,777,229 | |||||||||
| As of February 1, 2019 | 5,453,765 | $ | 91.19 | 5,352,886 | $ | 13,944,777,229 |
| 1 | The total number of shares purchased includes shares withheld from employees to satisfy either the exercise price of stock options or the statutory withholding tax liability upon the vesting of share-based awards. |
| 2 | On January 26, 2018, the Company announced that its Board of Directors authorized $5.0 billion of share repurchases with no expiration. On December 12, 2018, the Company announced that its Board of Directors authorized an additional $10.0 billion of share repurchases with no expiration. |
| 3 | In November 2018, the Company entered into an Accelerated Share Repurchase (ASR) agreement with a third-party financial institution to repurchase $270 million of the Company’s common stock. Pursuant to the agreement, the Company paid $270 million to the financial institution and received an initial delivery of 2.6 million shares. Subsequent to the end of the fourth quarter, in February 2019, the Company finalized the transaction and received an additional 0.3 million shares. The average price paid per share reflected in the table above was derived using the fair market value of the shares on the date the initial 2.6 million shares were delivered. See Note 11 to the consolidated financial statements included herein for additional information regarding share repurchases. |
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