Lowe's Companies said on March 24, 2023 that its board of directors declared a regular quarterly dividend of $1.05 per share ($4.20 annualized). Previously, the company paid $1.05 per share.
Shares must be purchased before the ex-div date of April 25, 2023 to qualify for the dividend. Shareholders of record as of April 26, 2023 will receive the payment on May 10, 2023.
At the current share price of $190.53 / share, the stock's dividend yield is 2.20%. 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=236).
The current dividend yield is 1.21 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.39. 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 0.91%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 22.51% Upside
As of March 28, 2023, the average one-year price target for Lowe's Companies is $233.41. The forecasts range from a low of $152.51 to a high of $315.00. The average price target represents an increase of 22.51% from its latest reported closing price of $190.53.
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The projected annual revenue for Lowe's Companies is $98,362MM, an increase of 1.34%. The projected annual non-GAAP EPS is $13.90.
What is the Fund Sentiment?
There are 3444 funds or institutions reporting positions in Lowe's Companies. This is an increase of 133 owner(s) or 4.02% in the last quarter. Average portfolio weight of all funds dedicated to LOW is 0.57%, a decrease of 6.89%. Total shares owned by institutions decreased in the last three months by 1.60% to 505,970K shares. The put/call ratio of LOW is 1.17, indicating a bearish outlook.
What are Large Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 18,384K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 18,515K shares, representing a decrease of 0.71%. The firm decreased its portfolio allocation in LOW by 2.72% over the last quarter.
Jpmorgan Chase & holds 17,550K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 16,357K shares, representing an increase of 6.80%. The firm increased its portfolio allocation in LOW by 4.49% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 14,349K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 14,489K shares, representing a decrease of 0.98%. The firm decreased its portfolio allocation in LOW by 3.21% over the last quarter.
Wells Fargo holds 11,130K shares representing 1.85% ownership of the company. No change in the last quarter.
Geode Capital Management holds 10,960K shares representing 1.82% ownership of the company. In it's prior filing, the firm reported owning 11,005K shares, representing a decrease of 0.41%. The firm decreased its portfolio allocation in LOW by 2.33% 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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
