Lowe’s Cos. (LOW) Reaches New 52-Week High at $82.31
Shares of Lowe’s Cos. (NYSE:LOW) hit a new 52-week high during trading on Friday . The stock traded as high as $82.31 and last traded at $82.12, with a volume of 2,606,041 shares. The stock had previously closed at $80.48.
Several analysts have commented on the stock. Vetr upgraded shares of Lowe’s Cos. from a “buy” rating to a “strong-buy” rating and set a $86.38 price target on the stock in a research note on Monday, June 27th. Deutsche Bank AG reiterated a “buy” rating on shares of Lowe’s Cos. in a research note on Wednesday, April 27th. Raymond James Financial Inc. reiterated a “hold” rating on shares of Lowe’s Cos. in a research note on Thursday, May 19th. Zacks Investment Research cut shares of Lowe’s Cos. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $89.00 price target (up previously from $88.00) on shares of Lowe’s Cos. in a research note on Tuesday, May 17th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $83.41.
The company’s 50 day moving average price is $78.97 and its 200-day moving average price is $74.38. The stock has a market capitalization of $72.96 billion and a P/E ratio of 27.42.
Lowe’s Cos. (NYSE:LOW) last issued its earnings results on Wednesday, May 18th. The home improvement retailer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. The firm had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $14.87 billion. During the same period last year, the firm earned $0.70 earnings per share. Lowe’s Cos.’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts forecast that Lowe’s Cos. will post $4.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 3rd. Shareholders of record on Wednesday, July 20th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, July 18th. This is a boost from Lowe’s Cos.’s previous quarterly dividend of $0.28.
In other Lowe’s Cos. news, CFO Robert F. Hull, Jr. sold 134,000 shares of Lowe’s Cos. stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $79.75, for a total transaction of $10,686,500.00. Following the completion of the sale, the chief financial officer now directly owns 262,353 shares in the company, valued at $20,922,651.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew V. Hollifield sold 17,976 shares of Lowe’s Cos. stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $79.16, for a total transaction of $1,422,980.16. Following the sale, the chief accounting officer now owns 36,715 shares of the company’s stock, valued at $2,906,359.40. The disclosure for this sale can be found here.
Several large investors recently made changes to their positions in the stock. Matarin Capital Management LLC bought a new stake in shares of Lowe’s Cos. during the fourth quarter worth $4,634,000. Stephens Inc. AR boosted its stake in shares of Lowe’s Cos. by 70.8% in the fourth quarter. Stephens Inc. AR now owns 65,170 shares of the home improvement retailer’s stock worth $4,956,000 after buying an additional 27,020 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Lowe’s Cos. by 55.6% in the fourth quarter. Jennison Associates LLC now owns 588,885 shares of the home improvement retailer’s stock worth $44,779,000 after buying an additional 210,391 shares in the last quarter. I.G. Investment Management LTD. boosted its stake in shares of Lowe’s Cos. by 2,138.0% in the fourth quarter. I.G. Investment Management LTD. now owns 393,640 shares of the home improvement retailer’s stock worth $29,932,000 after buying an additional 376,051 shares in the last quarter. Finally, Trexquant Investment LP boosted its stake in shares of Lowe’s Cos. by 91.3% in the fourth quarter. Trexquant Investment LP now owns 54,700 shares of the home improvement retailer’s stock worth $4,159,000 after buying an additional 26,100 shares in the last quarter.
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company serves homeowners, renters and professional customers (Pro customers). The Company’s retail customers, consists of individual homeowners and renters, a range of projects.
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