Wedbush reiterated their neutral rating on shares of Lowe’s Companies (NYSE:LOW – Free Report) in a report published on Wednesday, Benzinga reports. They currently have a $230.00 price target on the home improvement retailer’s stock.
LOW has been the topic of a number of other reports. Telsey Advisory Group restated a market perform rating and issued a $230.00 target price (up from $225.00) on shares of Lowe’s Companies in a report on Tuesday. Loop Capital upped their price target on shares of Lowe’s Companies from $215.00 to $225.00 and gave the company a hold rating in a report on Wednesday. Truist Financial upped their price target on shares of Lowe’s Companies from $229.00 to $249.00 and gave the company a buy rating in a report on Friday, July 14th. Barclays cut their price target on shares of Lowe’s Companies from $215.00 to $212.00 in a report on Wednesday, May 24th. Finally, Argus upped their price target on shares of Lowe’s Companies from $250.00 to $260.00 in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies presently has an average rating of Hold and a consensus price target of $234.89.
View Our Latest Research Report on Lowe’s Companies
Lowe’s Companies Stock Performance
Lowe’s Companies (NYSE:LOW – Get Free Report) last posted its earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.07. Lowe’s Companies had a net margin of 6.65% and a negative return on equity of 68.42%. The firm had revenue of $24.96 billion for the quarter, compared to the consensus estimate of $24.97 billion. During the same period in the previous year, the firm posted $4.67 EPS. The business’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, analysts forecast that Lowe’s Companies will post 13.37 EPS for the current fiscal year.
Lowe’s Companies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $4.40 dividend on an annualized basis and a yield of 1.94%. Lowe’s Companies’s payout ratio is 42.84%.
Insider Activity at Lowe’s Companies
In related news, EVP Donald Frieson sold 13,114 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $203.45, for a total transaction of $2,668,043.30. Following the completion of the sale, the executive vice president now owns 18,020 shares of the company’s stock, valued at $3,666,169. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Lowe’s Companies
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp lifted its position in Lowe’s Companies by 1.5% during the second quarter. State Street Corp now owns 25,223,923 shares of the home improvement retailer’s stock valued at $5,693,039,000 after acquiring an additional 374,457 shares during the last quarter. Morgan Stanley increased its stake in Lowe’s Companies by 21.3% during the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after purchasing an additional 2,050,089 shares in the last quarter. Geode Capital Management LLC increased its stake in Lowe’s Companies by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 10,992,637 shares of the home improvement retailer’s stock valued at $2,474,841,000 after purchasing an additional 135,510 shares in the last quarter. Norges Bank acquired a new position in Lowe’s Companies during the 4th quarter valued at approximately $1,461,267,000. Finally, Moneta Group Investment Advisors LLC increased its stake in Lowe’s Companies by 107,710.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after purchasing an additional 5,075,327 shares in the last quarter. Hedge funds and other institutional investors own 73.47% of the company’s stock.
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.
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