Item 5. Market for Registrant’s Common Equity
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 20, 2025, there were 19,786 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, 2020, in the Company’s common stock and each of the indices.
1/31/2020 1/29/2021 1/28/2022 2/3/2023 2/2/2024 1/31/2025
Lowe’s $ 100.00 $ 145.94 $ 208.44 $ 195.43 $ 202.79 $ 244.70
S&P 500 100.00 117.23 141.84 134.58 163.95 202.41
S&P Retail Index 100.00 141.39 149.72 126.69 174.14 227.91
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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 2024:
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, 3
November 2, 2024 - November 29, 2024 4
1,408,924 $ 258.41 1,408,481 $ 11,721,027,386
November 30, 2024 - January 3, 2025 4
808,207 247.92 806,759 11,521,039,437
January 4, 2025 - January 31, 2025 3,247,993 257.41 3,247,535 10,786,142,988
As of January 31, 2025 5,465,124 $ 256.26 5,462,775 $ 10,786,142,988
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 December 7, 2022, the Company announced that its Board of Directors authorized an additional $15.0 billion of share repurchases with no expiration.
3 Excludes excise tax on share repurchases in excess of issuances, which is recognized as part of the cost basis of the shares acquired in the consolidated statements of shareholders’ deficit.
4 In November 2024, the Company entered into an Accelerated Share Repurchase (ASR) agreement with a third-party financial institution to repurchase the Company’s common stock. At inception, pursuant to the ASR agreement, the Company paid $400 million to the financial institution and received an initial delivery of 1.2 million shares. In January 2025, the Company finalized the transaction and received an additional 0.4 million shares. The average price paid per share in settlement of the ASR agreement included in the table above was determined with reference to the volume-weighted average price of the Company’s common stock over the term of the ASR agreement. See Note 9 to the consolidated financial statements included herein for additional information regarding share repurchases.
Item 6 - Reserved
Not applicable.
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