Jennison Associates LLC Acquires 171,928 Shares of Lowe’s Companies, Inc. $LOW

Jennison Associates LLC grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 34.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 669,556 shares of the home improvement retailer’s stock after purchasing an additional 171,928 shares during the period. Jennison Associates LLC owned approximately 0.12% of Lowe’s Companies worth $168,266,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of LOW. Westfuller Advisors LLC bought a new stake in Lowe’s Companies in the third quarter worth $148,000. Delta Financial Advisors LLC boosted its holdings in shares of Lowe’s Companies by 1.3% in the third quarter. Delta Financial Advisors LLC now owns 13,454 shares of the home improvement retailer’s stock valued at $3,381,000 after purchasing an additional 167 shares during the period. TrueMark Investments LLC bought a new position in shares of Lowe’s Companies during the 3rd quarter worth $2,010,000. Parkside Financial Bank & Trust boosted its stake in shares of Lowe’s Companies by 6.0% during the third quarter. Parkside Financial Bank & Trust now owns 9,798 shares of the home improvement retailer’s stock valued at $2,462,000 after purchasing an additional 558 shares in the last quarter. Finally, Facet Wealth Inc. bought a new position in shares of Lowe’s Companies in the 3rd quarter worth $558,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.5%

Lowe’s Companies stock opened at $276.46 on Friday. The company has a fifty day simple moving average of $249.28 and a 200-day simple moving average of $246.05. The firm has a market capitalization of $155.08 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 4.56 and a beta of 0.96. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $281.36.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The company had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. Lowe’s Companies’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.89 EPS. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Lowe’s Companies’s payout ratio is presently 39.80%.

Wall Street Analyst Weigh In

LOW has been the topic of several research analyst reports. Argus dropped their target price on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, December 2nd. Sanford C. Bernstein increased their price target on Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Wolfe Research decreased their price target on Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, November 24th. Stifel Nicolaus lifted their price objective on shares of Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a report on Monday, December 1st. Finally, JPMorgan Chase & Co. increased their price target on Lowe’s Companies from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $283.65.

Insider Buying and Selling

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the transaction, the chief executive officer directly owned 231,043 shares in the company, valued at $60,341,500.31. The trade was a 7.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

Lowe’s Companies Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.