Lowe’s Companies (NYSE:LOW) Stock Price Up 0.9% Following Dividend Announcement

Lowe’s Companies, Inc. (NYSE:LOWGet Free Report) traded up 0.9% on Friday after the company announced a dividend. The stock traded as high as $218.78 and last traded at $217.40. 555,653 shares changed hands during trading, a decline of 77% from the average session volume of 2,438,497 shares. The stock had previously closed at $215.46.

The newly announced dividend which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.27%. Lowe’s Companies’s payout ratio is currently 35.34%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley raised their price objective on Lowe’s Companies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Mizuho initiated coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price objective for the company. Wells Fargo & Company upped their price target on Lowe’s Companies from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $246.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $251.33.

Read Our Latest Report on LOW

Lowe’s Companies Stock Performance

The stock’s fifty day moving average price is $232.81 and its two-hundred day moving average price is $225.59. The company has a market cap of $126.62 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.64 and a beta of 1.15.

Lowe’s Companies (NYSE:LOWGet Free Report) last issued its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter in the prior year, the firm earned $3.67 EPS. The firm’s revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Institutional Investors Weigh In On Lowe’s Companies

Several large investors have recently modified their holdings of LOW. Norges Bank bought a new position in shares of Lowe’s Companies in the fourth quarter valued at $1,638,746,000. Vanguard Group Inc. grew its stake in Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in Lowe’s Companies by 187,225.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock valued at $438,783,000 after acquiring an additional 2,110,032 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Lowe’s Companies during the fourth quarter valued at approximately $430,090,000. Finally, Schroder Investment Management Group lifted its position in Lowe’s Companies by 189.5% during the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock valued at $581,592,000 after purchasing an additional 1,831,727 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

About Lowe’s Companies

(Get Free Report)

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

Further Reading

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