Lowe’s Companies (NYSE:LOW) Given New $291.00 Price Target at Royal Bank of Canada

Lowe’s Companies (NYSE:LOW) had its price objective increased by Royal Bank of Canada from $290.00 to $291.00 in a report published on Wednesday,Benzinga reports. They currently have a sector perform rating on the home improvement retailer’s stock.

Other research analysts also recently issued reports about the company. Stifel Nicolaus boosted their target price on Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Finally, Melius Research started coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $264.68 on Wednesday. Lowe’s Companies has a 52-week low of $196.23 and a 52-week high of $287.01. The business has a fifty day moving average of $268.74 and a two-hundred day moving average of $244.83. The stock has a market cap of $150.15 billion, a PE ratio of 22.08, a PEG ratio of 2.22 and a beta of 1.10.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were paid a $1.15 dividend. The ex-dividend date was Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.74%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Insider Activity

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of Lowe’s Companies in the third quarter valued at about $27,000. JNBA Financial Advisors boosted its holdings in Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the period. MFA Wealth Advisors LLC boosted its holdings in Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares during the period. Stephens Consulting LLC grew its position in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies during the second quarter worth approximately $37,000. 74.06% of the stock is owned by institutional investors and hedge funds.

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.