Lowe’s Companies (NYSE:LOW) Shares Up 0.4% After Dividend Announcement

Shares of Lowe’s Companies, Inc. (NYSE:LOW) shot up 0.4% during trading on Friday following a dividend announcement from the company. The company traded as high as $249.05 and last traded at $247.65. 219,966 shares were traded during mid-day trading, a decline of 91% from the average session volume of 2,508,316 shares. The stock had previously closed at $246.77.

The newly announced dividend which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.85%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is presently 36.95%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LOW. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a report on Tuesday, August 20th. Stifel Nicolaus upped their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a report on Monday, May 13th. Bank of America lowered their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, DA Davidson lowered their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $254.04.

Lowe’s Companies Stock Performance

The stock’s 50-day moving average price is $234.08 and its two-hundred day moving average price is $233.45. The stock has a market capitalization of $141.60 billion, a PE ratio of 19.96, a P/E/G ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.56 EPS. On average, analysts predict that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Institutional Trading of Lowe’s Companies

Several institutional investors have recently bought and sold shares of LOW. Norges Bank purchased a new stake in Lowe’s Companies during the 4th quarter valued at about $1,638,746,000. Vanguard Group Inc. grew its position in Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares during the last quarter. Strategic Financial Concepts LLC grew its position in Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after purchasing an additional 1,199,100 shares during the last quarter. Canoe Financial LP purchased a new stake in Lowe’s Companies during the 4th quarter valued at about $206,912,000. Finally, M&G Plc purchased a new stake in Lowe’s Companies during the 1st quarter valued at about $217,995,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Company Profile

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.