Lowe's Companies, Inc. (NYSE:LOW) Announces Quarterly Dividend of $1.15

Lowe's Companies, Inc. (NYSE:LOW - Get Free Report) declared a quarterly dividend on Friday, March 21st, RTT News reports. Stockholders of record on Wednesday, April 23rd will be given a dividend of 1.15 per share by the home improvement retailer on Wednesday, May 7th. This represents a $4.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Wednesday, April 23rd.

Lowe's Companies has increased its dividend by an average of 14.9% per year over the last three years and has raised its dividend every year for the last 53 years. Lowe's Companies has a payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Lowe's Companies to earn $12.54 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 36.7%.

Lowe's Companies Trading Down 1.0 %

NYSE:LOW traded down $2.28 during mid-day trading on Tuesday, hitting $230.61. The stock had a trading volume of 2,341,957 shares, compared to its average volume of 2,279,546. The company has a 50 day simple moving average of $247.67 and a 200-day simple moving average of $257.80. The stock has a market capitalization of $130.21 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.96 and a beta of 1.12. Lowe's Companies has a 52 week low of $211.80 and a 52 week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.10. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $18.55 billion for the quarter, compared to analysts' expectations of $18.29 billion. As a group, equities research analysts anticipate that Lowe's Companies will post 11.9 earnings per share for the current year.

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Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent analyst reports. Sanford C. Bernstein lifted their price objective on shares of Lowe's Companies from $301.00 to $304.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Piper Sandler reduced their price target on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday. Wedbush reiterated a "neutral" rating and set a $250.00 price objective on shares of Lowe's Companies in a research note on Thursday, December 12th. Evercore ISI upped their target price on Lowe's Companies from $270.00 to $290.00 and gave the stock an "in-line" rating in a research report on Thursday, December 12th. Finally, Truist Financial lowered their price target on Lowe's Companies from $308.00 to $295.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $279.71.

Institutional Trading of Lowe's Companies

A hedge fund recently raised its stake in Lowe's Companies stock. Brighton Jones LLC grew its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 119.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,965 shares of the home improvement retailer's stock after acquiring an additional 17,413 shares during the period. Brighton Jones LLC's holdings in Lowe's Companies were worth $7,889,000 as of its most recent SEC filing. 74.06% of the stock is owned by hedge funds and other 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.