Brokerages Set Lowe’s Companies, Inc. (NYSE:LOW) Target Price at $280.85

Lowe’s Companies, Inc. (NYSE:LOW) has earned an average rating of “Moderate Buy” from the twenty-six brokerages that are currently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $280.85.

LOW has been the subject of a number of recent analyst reports. Sanford C. Bernstein raised their price target on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Piper Sandler upped their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. DA Davidson upped their price objective on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Finally, Mizuho lifted their target price on shares of Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, December 12th.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $262.35 on Friday. The firm has a fifty day moving average of $259.11 and a 200 day moving average of $255.95. Lowe’s Companies has a one year low of $209.55 and a one year high of $287.01. The firm has a market cap of $148.13 billion, a PE ratio of 21.88, a PEG ratio of 2.16 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is 38.37%.

Insider Activity

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total value of $1,974,915.26. Following the completion of the sale, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors have recently modified their holdings of the business. Flavin Financial Services Inc. acquired a new stake in Lowe’s Companies during the 4th quarter worth $492,000. Calamos Wealth Management LLC grew its holdings in shares of Lowe’s Companies by 2.3% during the fourth quarter. Calamos Wealth Management LLC now owns 4,911 shares of the home improvement retailer’s stock worth $1,212,000 after buying an additional 109 shares during the last quarter. Patron Partners LLC raised its stake in Lowe’s Companies by 2.7% during the 4th quarter. Patron Partners LLC now owns 2,749 shares of the home improvement retailer’s stock valued at $678,000 after acquiring an additional 72 shares during the last quarter. Trust Point Inc. lifted its position in Lowe’s Companies by 1.8% during the 4th quarter. Trust Point Inc. now owns 4,188 shares of the home improvement retailer’s stock worth $1,034,000 after acquiring an additional 75 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at approximately $202,000. 74.06% of the stock is owned by institutional investors and hedge funds.

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.