Lowe’s Companies (NYSE:LOW) Given New $260.00 Price Target at Stifel Nicolaus

Lowe’s Companies (NYSE:LOW) had its price target upped by Stifel Nicolaus from $250.00 to $260.00 in a research report report published on Monday,Benzinga reports. They currently have a hold rating on the home improvement retailer’s stock.

A number of other brokerages also recently issued reports on LOW. Melius Research started coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target on the stock. Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Truist Financial raised their price target on Lowe’s Companies from $306.00 to $307.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Morgan Stanley upped their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Evercore ISI raised their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.84.

Lowe’s Companies Stock Down 0.7 %

NYSE:LOW opened at $270.35 on Monday. The business’s 50-day simple moving average is $266.16 and its two-hundred day simple moving average is $243.06. Lowe’s Companies has a 52 week low of $196.23 and a 52 week high of $287.01. The stock has a market cap of $153.37 billion, a PE ratio of 22.42, a P/E/G ratio of 2.24 and a beta of 1.10.

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

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 38.14%.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on 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 completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 41.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Institutional Trading of Lowe’s Companies

Several hedge funds have recently modified their holdings of the company. Bamco Inc. NY grew its stake in shares of Lowe’s Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after acquiring an additional 20,181 shares during the last quarter. Plato Investment Management Ltd increased its stake in Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after purchasing an additional 5,470 shares in the last quarter. HM Payson & Co. raised its holdings in shares of Lowe’s Companies by 1.1% in the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after buying an additional 2,322 shares during the last quarter. Daymark Wealth Partners LLC lifted its stake in shares of Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after buying an additional 2,889 shares during the period. Finally, AMF Tjanstepension AB lifted its stake in shares of Lowe’s Companies by 14.4% during the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after buying an additional 20,123 shares during the period. 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.