A series of research firms have recently updated their ratings and price targets for Lowe’s Companies (NYSE: LOW), signaling shifting sentiments within the investment community. Alongside these updates, the home improvement retailer has announced a quarterly dividend, which will be distributed on February 4, 2024. Shareholders on record as of January 21, 2024, will receive a dividend of $1.20 per share, translating to an annualized dividend of $4.80 and a dividend yield of 2.1%. The ex-dividend date is also set for January 21, 2024, which is crucial for investors looking to benefit from this payout.
In related news, insider trading activity has been notable. Executive Vice President Brandon J. Sink sold 8,192 shares of the company’s stock on September 5, 2023, at an average price of $268.58, resulting in a total transaction of $2,200,207.36. Following this sale, Sink’s ownership decreased significantly, leaving him with 21,603 shares valued at approximately $5,802,133.74. This sale reflects a 27.49% reduction in his stake in the company.
Another insider, Executive Vice President Juliette Williams Pryor, also sold shares recently. On August 26, 2023, Pryor sold 929 shares at an average price of $257.20, totaling $238,938.80. Post-transaction, Pryor owned 30,099 shares, valued at approximately $7,741,462.80, marking a 2.99% decline in her ownership.
In the last quarter alone, insiders have sold a total of 92,931 shares worth $24,945,752. Currently, insiders hold 0.27% of the company’s stock, reflecting a trend of executives liquidating portions of their holdings.
Lowe’s Companies, Inc. operates as a prominent home improvement retailer in the United States, offering a wide array of products for construction, maintenance, repair, remodeling, and decorating. Its product lines include appliances, seasonal and outdoor living items, lawn and garden supplies, tools, paint, flooring, and electrical goods, catering to both professional contractors and DIY enthusiasts.
Investors and analysts will be closely monitoring these developments as Lowe’s continues to navigate the competitive home improvement market. For those interested in staying informed about Lowe’s and other related companies, MarketBeat.com offers a free daily email newsletter summarizing the latest news and analysts’ ratings.
