Lowe’s Companies (NYSE:LOW) Trading Up 0.6%

Lowe’s Companies, Inc. (NYSE:LOW) shares were up 0.6% on Monday . The company traded as high as $253.20 and last traded at $251.49. Approximately 366,076 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 2,523,966 shares. The stock had previously closed at $250.07.

Analysts Set New Price Targets

A number of equities analysts recently commented on LOW shares. Citigroup lowered their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Wedbush reiterated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Stifel Nicolaus raised their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. DA Davidson lowered their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.04.

Lowe’s Companies Stock Up 0.2 %

The stock has a market capitalization of $142.78 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.85 and a beta of 1.07. The firm has a fifty day moving average of $231.99 and a 200-day moving average of $232.72.

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

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Institutional Investors Weigh In On Lowe’s Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Lowe’s Companies by 5.2% in 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 purchasing an additional 2,674,372 shares during the period. Norges Bank acquired a new stake in Lowe’s Companies in the fourth quarter valued at $1,638,746,000. Legal & General Group Plc lifted its position in shares of Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after purchasing an additional 82,978 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Lowe’s Companies by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock worth $714,637,000 after purchasing an additional 41,451 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in Lowe’s Companies by 1.9% in the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after buying an additional 52,859 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

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.