Lowe’s Companies, Inc. (LOW) to Issue Quarterly Dividend of $1.15 on February 5th

Lowe’s Companies, Inc. (NYSE:LOW) declared a quarterly dividend on Friday, November 15th,RTT News reports. Investors of record on Wednesday, January 22nd will be paid a dividend of 1.15 per share by the home improvement retailer on Monday, February 5th. This represents a $4.60 annualized dividend and a yield of 1.71%.

Lowe’s Companies has increased its dividend payment by an average of 24.1% per year over the last three years and has increased its dividend every year for the last 53 years. Lowe’s Companies has a dividend payout ratio of 36.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lowe’s Companies to earn $12.63 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 36.4%.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $269.40 on Friday. The company has a market capitalization of $152.83 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.21 and a beta of 1.10. The company has a fifty day moving average of $267.19 and a 200 day moving average of $243.62. 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 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.56 EPS. Analysts forecast that Lowe’s Companies will post 11.93 EPS for the current year.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred on 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 owns 13,214 shares in the company, 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. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on LOW shares. Gordon Haskett decreased their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Morgan Stanley boosted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Truist Financial boosted their price target on shares of Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Sanford C. Bernstein began coverage on shares of Lowe’s Companies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $273.84.

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.