Lowe’s Companies, Inc. (NYSE:LOW) CAO Sells $1,684,262.58 in Stock

Lowe’s Companies, Inc. (NYSE:LOW) CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Lowe’s Companies Stock Performance

NYSE LOW traded up $1.23 on Monday, hitting $256.64. 1,591,028 shares of the stock were exchanged, compared to its average volume of 2,494,395. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The firm has a market capitalization of $146.24 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.03 and a beta of 1.10. The stock has a fifty day moving average price of $240.11 and a two-hundred day moving average price of $234.75.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the prior year, the firm posted $4.56 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Wall Street Analysts Forecast Growth

LOW has been the subject of several analyst reports. Wells Fargo & Company reduced their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. UBS Group boosted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Truist Financial lifted their target price on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Evercore ISI lifted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research report on Wednesday, August 21st. Finally, DA Davidson lowered their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $252.83.

Hedge Funds Weigh In On Lowe’s Companies

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised 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 in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after acquiring an additional 1,199,100 shares in the last quarter. M&G Plc purchased a new stake in Lowe’s Companies in the first quarter worth about $217,995,000. Pathstone Holdings LLC bought a new position in Lowe’s Companies during the 4th quarter worth about $126,615,000. Finally, Price T Rowe Associates Inc. MD increased its position in Lowe’s Companies by 36.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after purchasing an additional 493,180 shares during the period. Hedge funds and other institutional investors 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.