Jennison Associates LLC Decreases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Jennison Associates LLC reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 27.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 268,455 shares of the home improvement retailer’s stock after selling 99,149 shares during the period. Jennison Associates LLC’s holdings in Lowe’s Companies were worth $59,745,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Wetzel Investment Advisors Inc. acquired a new position in Lowe’s Companies in the 4th quarter valued at about $25,000. Orion Capital Management LLC acquired a new position in shares of Lowe’s Companies during the 3rd quarter valued at about $26,000. VisionPoint Advisory Group LLC increased its position in Lowe’s Companies by 85.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Lowe’s Companies during the 3rd quarter worth approximately $40,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Lowe’s Companies during the 4th quarter worth approximately $47,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $233.69 on Wednesday. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The business’s fifty day moving average price is $239.82 and its two-hundred day moving average price is $219.35. The firm has a market capitalization of $133.72 billion, a PE ratio of 17.76, a P/E/G ratio of 1.71 and a beta of 1.13.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The business had revenue of $18.60 billion during the quarter, compared to analyst estimates of $18.47 billion. During the same quarter last year, the company posted $2.28 EPS. Lowe’s Companies’s revenue for the quarter was down 17.1% on a year-over-year basis. Equities research analysts expect that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.88%. Lowe’s Companies’s dividend payout ratio (DPR) is 33.43%.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of analyst reports. Robert W. Baird upgraded Lowe’s Companies from an “average” rating to an “outperform” rating and set a $250.00 price target for the company in a report on Wednesday, February 14th. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a report on Wednesday, March 27th. Citigroup upped their price target on Lowe’s Companies from $199.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, February 21st. Mizuho initiated coverage on Lowe’s Companies in a report on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price target for the company. Finally, Stifel Nicolaus decreased their price target on Lowe’s Companies from $240.00 to $225.00 and set a “hold” rating for the company in a report on Friday, February 16th. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $252.52.

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.