Lowe’s Cos. (LOW) Sets New 1-Year High at $82.31
Shares of Lowe’s Cos. (NYSE:LOW) hit a new 52-week high on Friday . The stock traded as high as $82.31 and last traded at $82.12, with a volume of 2,606,041 shares traded. The stock had previously closed at $80.48.
LOW has been the subject of several recent research reports. Robert W. Baird reissued a “buy” rating on shares of Lowe’s Cos. in a report on Monday, May 16th. Zacks Investment Research raised Lowe’s Cos. from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Monday, May 16th. Deutsche Bank AG reissued a “buy” rating on shares of Lowe’s Cos. in a report on Wednesday, April 27th. Bank of America Corp. reissued a “buy” rating and set a $88.00 price objective on shares of Lowe’s Cos. in a report on Wednesday, April 6th. Finally, Goldman Sachs Group Inc. upped their price target on Lowe’s Cos. from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, April 6th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Lowe’s Cos. presently has an average rating of “Buy” and a consensus price target of $83.41.
The company has a market cap of $72.76 billion and a P/E ratio of 27.34. The stock has a 50 day moving average of $78.90 and a 200-day moving average of $74.33.
Lowe’s Cos. (NYSE:LOW) last announced its earnings results on Wednesday, May 18th. The home improvement retailer reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The company had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $14.87 billion. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 EPS. On average, equities research analysts anticipate that Lowe’s Cos. will post $4.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 3rd. Investors of record on Wednesday, July 20th will be given a dividend of $0.35 per share. 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. This represents a $1.40 annualized dividend and a dividend yield of 1.74%.
In other Lowe’s Cos. news, insider Nelson B. Peace sold 27,720 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $79.77, for a total value of $2,211,224.40. Following the transaction, the insider now owns 9,113 shares of the company’s stock, valued at $726,944.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Matthew V. Hollifield sold 17,976 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $79.16, for a total value of $1,422,980.16. Following the completion of the transaction, the chief accounting officer now directly owns 36,715 shares in the company, valued at approximately $2,906,359.40. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of the company. Matarin Capital Management LLC acquired a new position in Lowe’s Cos. during the fourth quarter valued at $4,634,000. Stephens Inc. AR boosted its position in 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 valued at $4,956,000 after buying an additional 27,020 shares in the last quarter. Jennison Associates LLC boosted its position in 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 valued at $44,779,000 after buying an additional 210,391 shares in the last quarter. I.G. Investment Management LTD. boosted its position in 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 valued at $29,932,000 after buying an additional 376,051 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in 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 valued at $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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