Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 23.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,672 shares of the home improvement retailer’s stock after purchasing an additional 37,162 shares during the period. Jennison Associates LLC’s holdings in Lowe’s Companies were worth $52,456,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in LOW. Bamco Inc. NY boosted its stake in shares of Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after purchasing an additional 20,181 shares during the period. Plato Investment Management Ltd boosted its position in Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after buying an additional 5,470 shares during the last quarter. HM Payson & Co. grew its stake in shares of Lowe’s Companies by 1.1% during the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after acquiring an additional 2,322 shares in the last quarter. Daymark Wealth Partners LLC increased its position in shares of Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after acquiring an additional 2,889 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its stake in shares of Lowe’s Companies by 14.4% in the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after acquiring an additional 20,123 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on LOW. Gordon Haskett dropped their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. UBS Group upped their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Sanford C. Bernstein cut their target price on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Mizuho increased their price target on shares of Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.92.

Insider Buying and Selling

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Lowe’s Companies Stock Up 0.9 %

Shares of LOW stock opened at $265.50 on Friday. Lowe’s Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01. The firm has a market cap of $150.62 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.15 and a beta of 1.10. The stock has a 50-day moving average price of $268.56 and a 200 day moving average price of $244.50.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.56 earnings per share. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.82 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.73%. Lowe’s Companies’s dividend payout ratio is 38.37%.

Lowe’s Companies Profile

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.