Stock Traders Purchase Large Volume of Call Options on Lowe's Companies (NYSE:LOW)

Lowe's Companies, Inc. (NYSE:LOW - Get Free Report) was the recipient of some unusual options trading on Monday. Traders bought 13,192 call options on the stock. This represents an increase of 51% compared to the average daily volume of 8,758 call options.

Lowe's Companies Trading Down 1.8 %

Shares of LOW traded down $4.08 on Friday, reaching $228.09. 944,452 shares of the company's stock traded hands, compared to its average volume of 2,414,654. The stock's 50 day simple moving average is $246.24 and its two-hundred day simple moving average is $257.35. The stock has a market cap of $127.66 billion, a PE ratio of 19.05, a PEG 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 announced its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. The firm had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Analysts forecast that Lowe's Companies will post 11.9 earnings per share for the current year.

Lowe's Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio is currently 37.67%.

Remove Ads

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LOW. Evercore ISI upped their price objective on Lowe's Companies from $270.00 to $290.00 and gave the company an "in-line" rating in a research note on Thursday, December 12th. Royal Bank of Canada dropped their price target on shares of Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. StockNews.com raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Wednesday. Sanford C. Bernstein raised their target price on Lowe's Companies from $301.00 to $304.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Finally, Truist Financial reduced 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 research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $279.71.

Institutional Investors Weigh In On Lowe's Companies

Hedge funds have recently modified their holdings of the stock. United Bank raised its stake in Lowe's Companies by 1.4% in the 3rd quarter. United Bank now owns 10,099 shares of the home improvement retailer's stock valued at $2,735,000 after acquiring an additional 137 shares during the period. Pacer Advisors Inc. raised its position in shares of Lowe's Companies by 2.9% in the third quarter. Pacer Advisors Inc. now owns 42,266 shares of the home improvement retailer's stock valued at $11,448,000 after purchasing an additional 1,175 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of Lowe's Companies by 3.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 13,824 shares of the home improvement retailer's stock valued at $3,748,000 after buying an additional 399 shares in the last quarter. Cerity Partners LLC boosted its holdings in Lowe's Companies by 19.0% in the 3rd quarter. Cerity Partners LLC now owns 210,662 shares of the home improvement retailer's stock worth $57,058,000 after buying an additional 33,686 shares during the period. Finally, Lane & Associates LLC purchased a new position in Lowe's Companies in the 3rd quarter valued at approximately $370,000. Institutional investors own 74.06% of the company's stock.

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.