Lowe’s Companies (NYSE:LOW) Given New $263.00 Price Target at JPMorgan Chase & Co.

Lowe’s Companies (NYSE:LOW) had its target price cut by JPMorgan Chase & Co. from $300.00 to $263.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

Several other brokerages also recently weighed in on LOW. Royal Bank of Canada dropped their price objective on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a report on Tuesday, April 15th. Morgan Stanley decreased their price target on shares of Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday. Bank of America lowered their price objective on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, DA Davidson reiterated a “neutral” rating and issued a $270.00 target price on shares of Lowe’s Companies in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average target price of $278.04.

Lowe’s Companies Trading Up 0.5 %

LOW stock opened at $224.54 on Tuesday. The company’s 50 day moving average is $225.61 and its 200 day moving average is $247.53. The stock has a market cap of $125.68 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. Lowe’s Companies has a 1-year low of $206.39 and a 1-year high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The company had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. As a group, sell-side analysts forecast that Lowe’s Companies will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lowe’s Companies’s payout ratio is 37.67%.

Hedge Funds Weigh In On Lowe’s Companies

A number of hedge funds have recently modified their holdings of LOW. Norges Bank purchased a new position in shares of Lowe’s Companies during the 4th quarter valued at $1,842,954,000. Pacer Advisors Inc. raised its stake in Lowe’s Companies by 2,984.6% during the 1st quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer’s stock valued at $475,339,000 after purchasing an additional 1,971,996 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in Lowe’s Companies by 350.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock worth $585,770,000 after purchasing an additional 1,846,315 shares during the period. GAMMA Investing LLC boosted its stake in Lowe’s Companies by 26,796.0% in the 1st quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock worth $386,540,000 after purchasing an additional 1,651,170 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Lowe’s Companies during the 4th quarter valued at approximately $314,435,000. 74.06% of the stock is currently owned by institutional investors.

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.