Lowe’s Companies (NYSE:LOW) Price Target Lowered to $284.00 at Wolfe Research

Lowe’s Companies (NYSE:LOW) had its price target cut by Wolfe Research from $285.00 to $284.00 in a research note released on Wednesday,MarketScreener reports. They currently have an outperform rating on the home improvement retailer’s stock.

LOW has been the topic of several other research reports. TD Cowen boosted their target price on Lowe’s Companies from $250.00 to $295.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lowe’s Companies in a research report on Monday, December 29th. JPMorgan Chase & Co. lifted their price target on shares of Lowe’s Companies from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Sanford C. Bernstein increased their price objective on shares of Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Finally, UBS Group dropped their target price on Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $284.77.

Lowe’s Companies Stock Up 1.1%

Shares of NYSE:LOW opened at $278.02 on Wednesday. The firm has a fifty day simple moving average of $257.24 and a two-hundred day simple moving average of $249.62. Lowe’s Companies has a 52 week low of $206.38 and a 52 week high of $281.36. The stock has a market capitalization of $155.96 billion, a P/E ratio of 23.05, a PEG ratio of 4.30 and a beta of 0.97.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $20.81 billion for the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.89 EPS. On average, analysts expect that Lowe’s Companies will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is currently 39.80%.

Insider Activity at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the sale, the chief executive officer directly owned 231,043 shares in the company, valued at $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

Several large investors have recently modified their holdings of LOW. Norges Bank acquired a new stake in Lowe’s Companies in the second quarter worth about $1,773,624,000. Wellington Management Group LLP boosted its stake in Lowe’s Companies by 102.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,204,311 shares of the home improvement retailer’s stock worth $1,056,585,000 after purchasing an additional 2,122,622 shares in the last quarter. Victory Capital Management Inc. increased its stake in Lowe’s Companies by 207.2% during the 3rd quarter. Victory Capital Management Inc. now owns 2,058,086 shares of the home improvement retailer’s stock valued at $517,218,000 after purchasing an additional 1,388,133 shares in the last quarter. Tableaux LLC acquired a new stake in shares of Lowe’s Companies during the second quarter worth $282,884,000. Finally, Laurel Wealth Advisors LLC grew its holdings in shares of Lowe’s Companies by 22,167.5% during the second quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock valued at $229,041,000 after buying an additional 1,027,683 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.