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

Jennison Associates LLC reduced its position in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 60.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,146 shares of the home improvement retailer’s stock after selling 161,309 shares during the period. Jennison Associates LLC’s holdings in Lowe’s Companies were worth $27,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Conservest Capital Advisors Inc. bought a new position in Lowe’s Companies in the 1st quarter worth $226,000. AAFMAA Wealth Management & Trust LLC raised its holdings in Lowe’s Companies by 185.7% in the 1st quarter. AAFMAA Wealth Management & Trust LLC now owns 4,211 shares of the home improvement retailer’s stock worth $1,073,000 after purchasing an additional 2,737 shares during the period. Baron Silver Stevens Financial Advisors LLC bought a new position in Lowe’s Companies in the 1st quarter worth $201,000. FinTrust Capital Advisors LLC raised its holdings in Lowe’s Companies by 19.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 5,190 shares of the home improvement retailer’s stock worth $1,322,000 after purchasing an additional 827 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in Lowe’s Companies by 6.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 59,973 shares of the home improvement retailer’s stock worth $15,277,000 after purchasing an additional 3,710 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent research reports. Wedbush reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. StockNews.com cut Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $246.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Evercore ISI decreased their price target on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a report on Tuesday, July 2nd. Finally, Stifel Nicolaus raised their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a report on Monday, May 13th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $250.41.

Get Our Latest Report on Lowe’s Companies

Lowe’s Companies Trading Down 0.4 %

LOW opened at $216.33 on Wednesday. The firm has a market cap of $123.27 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.66 and a beta of 1.08. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The stock has a 50-day moving average of $223.06 and a 200 day moving average of $228.01.

Lowe’s Companies (NYSE:LOWGet Free Report) last announced its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the previous year, the business earned $3.67 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, research analysts forecast that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe’s Companies’s payout ratio is presently 35.34%.

Lowe’s Companies Company Profile

(Free Report)

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, d├ęcor, and electrical.

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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