Lowe’s Companies, Inc. Announces Quarterly Dividend of $0.80 (NYSE:LOW)

Lowe’s Companies, Inc. (NYSE:LOWGet Rating) announced a quarterly dividend on Friday, March 18th, RTT News reports. Shareholders of record on Wednesday, April 20th will be given a dividend of 0.80 per share by the home improvement retailer on Wednesday, May 4th. This represents a $3.20 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, April 19th.

Lowe’s Companies has a payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lowe’s Companies to earn $14.74 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 21.7%.

Lowe’s Companies stock opened at $201.28 on Friday. Lowe’s Companies has a 12 month low of $182.08 and a 12 month high of $263.31. The stock’s 50 day moving average is $219.15 and its 200-day moving average is $231.62. The company has a market capitalization of $133.16 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 1.20 and a beta of 1.32.

Lowe’s Companies (NYSE:LOWGet Rating) last posted its earnings results on Wednesday, February 23rd. The home improvement retailer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Lowe’s Companies had a negative return on equity of 551.52% and a net margin of 8.77%. The company had revenue of $21.34 billion for the quarter, compared to the consensus estimate of $20.91 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts predict that Lowe’s Companies will post 13.4 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in LOW. Camden National Bank raised its position in Lowe’s Companies by 17.1% during the 4th quarter. Camden National Bank now owns 2,291 shares of the home improvement retailer’s stock worth $368,000 after purchasing an additional 335 shares during the last quarter. Toroso Investments LLC raised its position in Lowe’s Companies by 55.6% during the 4th quarter. Toroso Investments LLC now owns 23,866 shares of the home improvement retailer’s stock worth $6,169,000 after purchasing an additional 8,528 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in Lowe’s Companies by 48.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 10,090 shares of the home improvement retailer’s stock worth $2,608,000 after purchasing an additional 3,292 shares during the last quarter. Heritage Wealth Advisors raised its position in Lowe’s Companies by 20.3% during the 4th quarter. Heritage Wealth Advisors now owns 9,885 shares of the home improvement retailer’s stock worth $2,555,000 after purchasing an additional 1,667 shares during the last quarter. Finally, V Wealth Advisors LLC grew its holdings in Lowe’s Companies by 3.7% during the 4th quarter. V Wealth Advisors LLC now owns 2,478 shares of the home improvement retailer’s stock worth $640,000 after acquiring an additional 89 shares during the period. Institutional investors own 73.20% of the company’s stock.

LOW has been the topic of several research reports. Loop Capital decreased their target price on Lowe’s Companies from $240.00 to $190.00 in a research report on Tuesday, April 12th. Wedbush reduced their price target on Lowe’s Companies from $260.00 to $240.00 in a research report on Thursday, February 24th. Wells Fargo & Company reduced their price target on Lowe’s Companies from $295.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, April 7th. Piper Sandler reduced their price target on Lowe’s Companies from $267.00 to $243.00 and set an “overweight” rating on the stock in a research report on Thursday, April 7th. Finally, StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $257.23.

Lowe’s Companies Company Profile (Get Rating)

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.

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Dividend History for Lowe's Companies (NYSE:LOW)

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