Jennison Associates LLC Sells 99,149 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Jennison Associates LLC cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 27.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 268,455 shares of the home improvement retailer’s stock after selling 99,149 shares during the quarter. Jennison Associates LLC’s holdings in Lowe’s Companies were worth $59,745,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LOW. Wetzel Investment Advisors Inc. bought a new position in shares of Lowe’s Companies during the fourth quarter worth about $25,000. Orion Capital Management LLC bought a new position in shares of Lowe’s Companies during the third quarter worth about $26,000. VisionPoint Advisory Group LLC grew its holdings in shares of Lowe’s Companies by 85.4% during the third quarter. VisionPoint Advisory Group LLC now owns 152 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Lowe’s Companies during the third quarter worth about $40,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Lowe’s Companies during the fourth quarter worth about $47,000. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LOW has been the subject of a number of analyst reports. Mizuho initiated coverage on Lowe’s Companies in a research note on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price target for the company. Piper Sandler raised their price target on Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. 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 research note on Wednesday, February 14th. Wedbush raised their price target on Lowe’s Companies from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Wednesday, March 27th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Hold” and a consensus price target of $252.52.

Lowe’s Companies Trading Up 1.1 %

NYSE:LOW opened at $233.69 on Wednesday. The stock has a market cap of $133.72 billion, a P/E ratio of 17.76, a PEG ratio of 1.71 and a beta of 1.13. The stock has a 50 day simple moving average of $239.82 and a 200 day simple moving average of $219.35. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.09. The firm had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.28 EPS. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 1.88%. Lowe’s Companies’s dividend payout ratio is presently 33.43%.

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.