Lowe’s Companies (NYSE:LOW) Given New $282.00 Price Target at Mizuho

Lowe’s Companies (NYSE:LOW) had its price target raised by Mizuho from $280.00 to $282.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the home improvement retailer’s stock.

LOW has been the subject of several other reports. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their target price for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Truist Financial lifted their price target on shares of Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Bank of America raised their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Melius Research initiated coverage on Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Stock Performance

Shares of LOW opened at $263.03 on Wednesday. The stock has a market capitalization of $149.21 billion, a PE ratio of 21.94, a PEG ratio of 2.15 and a beta of 1.10. The company has a 50 day moving average price of $268.29 and a 200-day moving average price of $244.36. Lowe’s Companies has a fifty-two week low of $196.23 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $4.56 EPS. Equities research analysts forecast that Lowe’s Companies will post 11.82 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is 38.37%.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lowe’s Companies

Several institutional investors have recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new position in shares of Lowe’s Companies during the third quarter worth about $27,000. JNBA Financial Advisors increased its position in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. MFA Wealth Advisors LLC raised its holdings in shares of Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares in the last quarter. Stephens Consulting LLC lifted its position in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the second quarter worth $37,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

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.