Home improvement chain Lowe’s (NYSE:LOW) is a Dividend King, which means it has raised its dividend annually for the past 50 years. That’s no small feat, and it indicates the dividend is stable, if not very high-yielding, at 1.5%.
But what can investors expect from the stock price? Lowe’s shares gained about 85% over the past three years, versus the S&P 500‘s 39% rise. Where is it going, and can it make you a millionaire?
Getting on board with digital
As recently as the fiscal 2019 fourth quarter (which was a year ago), comps were a meager 2.5%. Sales came almost entirely from physical stores, even as most of the rest of the world, including rival Home Depot (NYSE:HD), were already heavily into digital. CEO Marvin Ellison, who came on board at the end of 2018 and quickly began to revamp operations, said