4 Best Stocks to Buy in 2023 According to Bill Ackman

1. Lowe’s Companies, Inc. (NYSE:LOW)

Pershing Square’s Q1 2023 Stake: $2 billion

Lowe’s Companies, Inc. (NYSE:LOW) operates home improvement and hardware retail stores in the United States. It is our top pick in best stocks to buy according to Bill Ackman as Pershing Square held over 10 million shares of the company, worth over $2 billion in the first quarter of 2023. Lowe’s Companies, Inc. (NYSE:LOW) represented 19.64% of the fund’s portfolio in the quarter.

Lowe’s Companies, Inc. (NYSE:LOW) is also one of our best income stocks according to analysts. The company has been growing its dividend for nearly 50 years. At the time of writing, Lowe’s Companies, Inc. (NYSE:LOW) has a dividend yield of 2.01%.

In the last three months, Lowe’s Companies, Inc. (NYSE:LOW) has been covered by 18 analysts with 10 of them maintaining a Buy or Outperform rating. The latest coverage was given by Baird analyst Peter Benedict on May 12. Benedict maintained an Outperform rating on Lowe’s Companies, Inc. (NYSE:LOW)’s shares but lowered his price target to $225 from $235.

You can also take a look at the 13 Best Places in Florida to Retire On a Budget and the 20 Biggest Blockchain Companies in the World in 2023.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.