Lowe’s Companies (NYSE:LOW) Price Target Raised to $282.00 at Mizuho

Lowe’s Companies (NYSE:LOW) had its target price raised by Mizuho from $280.00 to $282.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the home improvement retailer’s stock.

Several other brokerages have also issued reports on LOW. Morgan Stanley upped their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. cut their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Royal Bank of Canada raised their price objective on Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a report on Wednesday. Evercore ISI upped their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Finally, Bank of America increased their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $264.68 on Wednesday. The firm has a fifty day moving average price of $268.74 and a two-hundred day moving average price of $244.83. The company has a market cap of $150.15 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.22 and a beta of 1.10. Lowe’s Companies has a one year low of $196.23 and a one year high of $287.01.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.74%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, 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 the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’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 sale, the executive vice president now owns 13,214 shares in the company, valued at $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. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lowe’s Companies

A number of hedge funds have recently added to or reduced their stakes in LOW. Guardian Capital LP raised its holdings in shares of Lowe’s Companies by 2.5% in the first quarter. Guardian Capital LP now owns 7,588 shares of the home improvement retailer’s stock valued at $1,933,000 after acquiring an additional 188 shares in the last quarter. Stonebridge Capital Advisors LLC raised its holdings in shares of Lowe’s Companies by 18.6% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,410 shares of the home improvement retailer’s stock valued at $359,000 after purchasing an additional 221 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Lowe’s Companies in the 1st quarter worth approximately $2,769,000. Truvestments Capital LLC boosted its stake in shares of Lowe’s Companies by 14.5% during the first quarter. Truvestments Capital LLC now owns 931 shares of the home improvement retailer’s stock valued at $237,000 after purchasing an additional 118 shares in the last quarter. Finally, Linscomb Wealth Inc. increased its holdings in Lowe’s Companies by 7.0% during the first quarter. Linscomb Wealth Inc. now owns 13,621 shares of the home improvement retailer’s stock valued at $3,470,000 after buying an additional 888 shares during the period. 74.06% of the stock is currently owned by 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.