Lowe’s Companies (NYSE:LOW) Given New $250.00 Price Target at Loop Capital

Lowe’s Companies (NYSE:LOW) had its price objective boosted by Loop Capital from $230.00 to $250.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the home improvement retailer’s stock.

Other equities research analysts also recently issued reports about the company. Truist Financial lifted their target price on Lowe’s Companies from $265.00 to $269.00 and gave the stock a buy rating in a report on Wednesday, August 21st. Wedbush reiterated a neutral rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. UBS Group increased their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a buy rating in a research note on Wednesday, August 21st. Gordon Haskett decreased their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a hold rating for the company in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada cut their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a sector perform rating on the stock in a research report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $263.54.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $267.76 on Wednesday. The company’s 50 day moving average price is $249.61 and its 200-day moving average price is $237.06. Lowe’s Companies has a 52-week low of $181.85 and a 52-week high of $274.16. The company has a market capitalization of $152.58 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (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 business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the business earned $4.56 earnings per share. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts forecast that Lowe’s Companies will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.72%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Insider Activity at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’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 of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Institutional Trading of Lowe’s Companies

Large investors have recently added to or reduced their stakes in the stock. Drive Wealth Management LLC increased its stake in shares of Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 41 shares during the last quarter. Crown Wealth Group LLC increased its position in Lowe’s Companies by 4.4% in the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after buying an additional 44 shares during the last quarter. Pure Financial Advisors LLC raised its stake in shares of Lowe’s Companies by 2.5% in the second quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after buying an additional 45 shares during the period. BLB&B Advisors LLC raised its stake in shares of Lowe’s Companies by 2.2% in the second quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after buying an additional 45 shares during the period. Finally, Pathway Financial Advisers LLC lifted its position in shares of Lowe’s Companies by 3.5% during the 2nd quarter. Pathway Financial Advisers LLC now owns 1,331 shares of the home improvement retailer’s stock valued at $292,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

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.