Lowe’s Companies (NYSE:LOW) Price Target Raised to $300.00

Lowe’s Companies (NYSE:LOW) had its price target increased by Wells Fargo & Company from $260.00 to $300.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the home improvement retailer’s stock.

Several other brokerages have also recently issued reports on LOW. Morgan Stanley dropped their target price on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Citigroup dropped their target price on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating on the stock in a research report on Thursday, July 31st. Barclays increased their target price on Lowe’s Companies from $245.00 to $277.00 and gave the company an “equal weight” rating in a research report on Thursday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on Lowe’s Companies from $280.00 to $283.00 and gave the company an “overweight” rating in a report on Thursday. Sixteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $284.33.

Lowe’s Companies Trading Up 3.1%

Shares of NYSE LOW opened at $263.5780 on Thursday. The stock has a market capitalization of $147.72 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.49 and a beta of 0.89. The stock’s fifty day simple moving average is $230.09 and its two-hundred day simple moving average is $230.20. Lowe’s Companies has a 12-month low of $206.38 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.09. The business had revenue of $23.96 billion for the quarter, compared to analysts’ expectations of $23.99 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, equities analysts predict that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Wednesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is 39.77%.

Insider Transactions at Lowe’s Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares in the company, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the sale, the chief executive officer owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

Institutional investors have recently modified their holdings of the business. Brighton Jones LLC boosted its holdings in Lowe’s Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after buying an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Lowe’s Companies by 31.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock worth $266,000 after buying an additional 259 shares during the last quarter. MGO One Seven LLC boosted its holdings in Lowe’s Companies by 4.2% in the 4th quarter. MGO One Seven LLC now owns 15,276 shares of the home improvement retailer’s stock worth $3,770,000 after buying an additional 611 shares during the last quarter. Coppell Advisory Solutions LLC boosted its holdings in Lowe’s Companies by 17.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 2,363 shares of the home improvement retailer’s stock worth $583,000 after buying an additional 351 shares during the last quarter. Finally, Burling Wealth Partners LLC acquired a new stake in Lowe’s Companies in the 4th quarter worth about $466,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

About Lowe’s Companies

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.