Lowe's Companies, Inc. (NYSE:LOW) Declares Quarterly Dividend of $1.20

Lowe's Companies, Inc. (NYSE:LOW - Get Free Report) announced a quarterly dividend on Friday, May 30th, RTT News reports. Investors of record on Wednesday, July 23rd will be paid a dividend of 1.20 per share by the home improvement retailer on Wednesday, August 6th. This represents a $4.80 annualized dividend and a yield of 2.13%. This is a 4.3% increase from Lowe's Companies's previous quarterly dividend of $1.15.

Lowe's Companies has increased its dividend payment 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 34.5% indicating that 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 Price Performance

NYSE LOW traded up $0.64 during trading hours on Friday, hitting $225.57. 4,127,230 shares of the company's stock traded hands, compared to its average volume of 2,513,115. Lowe's Companies has a 52-week low of $206.39 and a 52-week high of $287.01. The company has a market capitalization of $126.25 billion, a PE ratio of 18.81, a PEG ratio of 1.96 and a beta of 1.00. The firm's 50-day moving average is $224.20 and its 200-day moving average is $242.95.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. During the same quarter in the prior year, the company earned $3.06 EPS. Lowe's Companies's revenue was down 2.0% compared to the same quarter last year. Equities research analysts predict that Lowe's Companies will post 11.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on LOW. JPMorgan Chase & Co. dropped their price objective on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. BNP Paribas raised shares of Lowe's Companies to a "strong sell" rating in a research note on Thursday, February 27th. Citigroup reissued a "neutral" rating and issued a $253.00 price target (down previously from $269.00) on shares of Lowe's Companies in a research note on Wednesday, May 14th. Truist Financial set a $264.00 price target on shares of Lowe's Companies and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, Mizuho set a $280.00 price target on shares of Lowe's Companies and gave the company an "outperform" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $271.12.

Institutional Investors Weigh In On Lowe's Companies

An institutional investor recently raised its position in Lowe's Companies stock. Revolve Wealth Partners LLC grew its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 31.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,078 shares of the home improvement retailer's stock after purchasing an additional 259 shares during the quarter. Revolve Wealth Partners LLC's holdings in Lowe's Companies were worth $266,000 at the end of the most recent reporting period. 74.06% of the stock is owned by institutional investors and hedge funds.

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.