Fintel reports that on September 8, 2023, Evercore ISI Group maintained coverage of Lowe`s Cos. (NYSE:LOW) with a In-Line recommendation.
Analyst Price Forecast Suggests 8.35% Upside
As of August 31, 2023, the average one-year price target for Lowe`s Cos. is 250.61. The forecasts range from a low of 180.79 to a high of $304.50. The average price target represents an increase of 8.35% from its latest reported closing price of 231.29.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lowe`s Cos. is 93,614MM, an increase of 0.41%. The projected annual non-GAAP EPS is 14.19.
Lowe`s Cos. Declares $1.10 Dividend
On August 18, 2023 the company declared a regular quarterly dividend of $1.10 per share ($4.40 annualized). Shareholders of record as of October 25, 2023 will receive the payment on November 8, 2023. Previously, the company paid $1.10 per share.
At the current share price of $231.29 / share, the stock's dividend yield is 1.90%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.80%, the lowest has been 1.14%, and the highest has been 3.24%. The standard deviation of yields is 0.34 (n=235).
The current dividend yield is 0.30 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.42. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.83%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 3403 funds or institutions reporting positions in Lowe`s Cos.. This is a decrease of 26 owner(s) or 0.76% in the last quarter. Average portfolio weight of all funds dedicated to LOW is 0.58%, an increase of 1.23%. Total shares owned by institutions decreased in the last three months by 2.42% to 477,101K shares. 
The put/call ratio of LOW is 1.21, indicating a bearish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 23,831K shares representing 4.13% ownership of the company. In it's prior filing, the firm reported owning 21,428K shares, representing an increase of 10.08%. The firm increased its portfolio allocation in LOW by 791.72% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 18,471K shares representing 3.20% ownership of the company. In it's prior filing, the firm reported owning 18,721K shares, representing a decrease of 1.35%. The firm increased its portfolio allocation in LOW by 2.75% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 14,199K shares representing 2.46% ownership of the company. In it's prior filing, the firm reported owning 14,110K shares, representing an increase of 0.62%. The firm increased its portfolio allocation in LOW by 2.87% over the last quarter.
Wells Fargo holds 11,432K shares representing 1.98% ownership of the company. In it's prior filing, the firm reported owning 11,472K shares, representing a decrease of 0.35%. The firm increased its portfolio allocation in LOW by 221.52% over the last quarter.
Geode Capital Management holds 10,993K shares representing 1.90% ownership of the company. In it's prior filing, the firm reported owning 10,857K shares, representing an increase of 1.23%. The firm increased its portfolio allocation in LOW by 3.37% over the last quarter.
Lowe`s Cos. Background Information
(This description is provided by the company.)
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 18 million customers a week in the United States and Canada. With fiscal year 2019 sales of $72.1 billion, Lowe's and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts.
Additional reading:
- AMENDED AND RESTATED CREDIT AGREEMENT Dated as of September 1, 2023 LOWE’S COMPANIES, INC., as the Borrower, BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer, U.S. BANK NATIONAL ASSOCIATION and WELLS FARGO BANK, NAT
- Form of Lowe’s Companies, Inc. Deferred Stock Unit Agreement for Nonemployee Directors.*‡
- LOWE’S REPORTS SECOND QUARTER 2023 SALES AND EARNINGS RESULTS — Comparable Sales Decreased 1.6%; Diluted EPS of $4.56— — Affirms Full Year 2023 Outlook —
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