Lowe’s Companies (NYSE:LOW) Given New $301.00 Price Target at Sanford C. Bernstein

Lowe’s Companies (NYSE:LOW) had its target price lowered by Sanford C. Bernstein from $306.00 to $301.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the home improvement retailer’s stock.

A number of other equities analysts also recently issued reports on the stock. Piper Sandler raised their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research note on Tuesday, November 19th. Wells Fargo & Company upped their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. TD Cowen boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Finally, Evercore ISI raised their price objective on Lowe’s Companies from $255.00 to $270.00 and gave the stock an “in-line” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.92.

Lowe’s Companies Stock Performance

LOW stock opened at $264.68 on Wednesday. The business’s 50-day moving average is $268.74 and its two-hundred day moving average is $244.83. The company has a market cap of $150.15 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 2.22 and a beta of 1.10. Lowe’s Companies has a fifty-two week low of $196.23 and a fifty-two week high of $287.01.

Lowe’s Companies Increases Dividend

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

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares of the company’s stock, 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. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bamco Inc. NY grew its position in shares of Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after buying an additional 20,181 shares in the last quarter. Plato Investment Management Ltd grew its holdings in Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after acquiring an additional 5,470 shares in the last quarter. HM Payson & Co. increased its position in Lowe’s Companies by 1.1% during the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after purchasing an additional 2,322 shares during the period. Daymark Wealth Partners LLC raised its holdings in shares of Lowe’s Companies by 12.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after purchasing an additional 2,889 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its position in shares of Lowe’s Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after purchasing an additional 20,123 shares during the period. 74.06% of the stock is currently owned by hedge funds and other 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.