TD Cowen Boosts Lowe’s Companies (NYSE:LOW) Price Target to $265.00

Lowe’s Companies (NYSE:LOW) had its price target lifted by TD Cowen from $240.00 to $265.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a hold rating on the home improvement retailer’s stock.

LOW has been the topic of several other research reports. Wells Fargo & Company dropped their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an overweight rating on the stock in a research note on Wednesday, August 21st. StockNews.com raised Lowe’s Companies from a hold rating to a buy rating in a research note on Wednesday. DA Davidson decreased their price target on Lowe’s Companies from $270.00 to $240.00 and set a neutral rating for the company in a research note on Wednesday, May 22nd. Piper Sandler lowered their price objective on shares of Lowe’s Companies from $264.00 to $262.00 and set an overweight rating on the stock in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. lowered their price objective 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. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $253.33.

Lowe’s Companies Trading Down 0.3 %

Shares of NYSE LOW opened at $260.14 on Thursday. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $262.49. The business has a 50 day simple moving average of $243.58 and a 200-day simple moving average of $235.36. The company has a market capitalization of $148.24 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.56 earnings per share. As a group, equities analysts predict that Lowe’s Companies will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Lowe’s Companies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brevan Howard Capital Management LP boosted its position in Lowe’s Companies by 824.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after buying an additional 13,680 shares during the period. Bamco Inc. NY increased its holdings in Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after purchasing an additional 20,181 shares during the period. Plato Investment Management Ltd raised its position 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 purchasing an additional 5,470 shares during the last quarter. 17 Capital Partners LLC acquired a new position in Lowe’s Companies during the 1st quarter worth about $1,368,000. Finally, Gerber LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $235,000. 74.06% of the stock is currently owned by institutional investors.

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.