Lowe’s Companies, Inc. to Issue Quarterly Dividend of $1.15 (NYSE:LOW)

Lowe’s Companies, Inc. (NYSE:LOW) announced a quarterly dividend on Friday, November 15th,RTT News reports. Shareholders 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 raised its dividend payment by an average of 24.1% per year over the last three years and has raised its dividend every year for the last 53 years. Lowe’s Companies has a dividend payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 0.4 %

LOW stock traded down $0.95 on Friday, hitting $269.40. 2,263,829 shares of the company’s stock traded hands, compared to its average volume of 2,439,940. The stock has a market cap of $152.83 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 2.24 and a beta of 1.10. Lowe’s Companies has a 1-year low of $196.23 and a 1-year high of $287.01. The stock has a fifty day moving average of $266.68 and a 200-day moving average of $243.25.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data 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 net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter last year, the business posted $4.56 EPS. The company’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Lowe’s Companies will post 11.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada dropped their target price on 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. Piper Sandler lifted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. TD Cowen increased their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Finally, Bank of America upped their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $273.84.

Insider Activity

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 approximately $2,334,678.06. The trade was a 41.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’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 completion of the transaction, the executive vice president now directly 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 insiders.

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.