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

Lowe’s Companies, Inc. (NYSE:LOW) announced a quarterly dividend on Friday, November 15th,RTT News reports. Stockholders of record on Wednesday, January 22nd will be paid a dividend of 1.15 per share by the home improvement retailer on Wednesday, February 5th. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, January 22nd.

Lowe’s Companies has raised its dividend by an average of 17.1% per year over the last three years and has raised its dividend annually for the last 53 consecutive years. Lowe’s Companies has a dividend payout ratio of 33.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lowe’s Companies to earn $12.56 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 36.6%.

Lowe’s Companies Stock Performance

Shares of LOW opened at $261.39 on Monday. Lowe’s Companies has a twelve month low of $209.55 and a twelve month high of $287.01. The firm’s 50 day moving average price is $260.10 and its two-hundred day moving average price is $254.60. The firm has a market cap of $147.59 billion, a P/E ratio of 21.80, a PEG ratio of 2.08 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LOW shares. Bank of America upped their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. 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 report on Tuesday, September 24th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a report on Thursday, December 12th. Melius Research started coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. Finally, DA Davidson raised their price target on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $280.85.

Insider Activity

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the transaction, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.26% 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.