Jennison Associates LLC Acquires 89,839 Shares of Lowe’s Companies, Inc. $LOW

Jennison Associates LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 22.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 497,628 shares of the home improvement retailer’s stock after buying an additional 89,839 shares during the period. Jennison Associates LLC owned 0.09% of Lowe’s Companies worth $110,409,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vertex Planning Partners LLC boosted its holdings in shares of Lowe’s Companies by 2.9% during the 1st quarter. Vertex Planning Partners LLC now owns 1,582 shares of the home improvement retailer’s stock valued at $369,000 after buying an additional 44 shares in the last quarter. Quadcap Wealth Management LLC raised its position in shares of Lowe’s Companies by 0.5% in the 1st quarter. Quadcap Wealth Management LLC now owns 9,386 shares of the home improvement retailer’s stock worth $2,189,000 after purchasing an additional 46 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Lowe’s Companies by 0.8% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer’s stock worth $1,357,000 after purchasing an additional 47 shares during the last quarter. Appleton Partners Inc. MA raised its position in shares of Lowe’s Companies by 1.5% in the 2nd quarter. Appleton Partners Inc. MA now owns 3,214 shares of the home improvement retailer’s stock worth $713,000 after purchasing an additional 47 shares during the last quarter. Finally, Fielder Capital Group LLC raised its position in shares of Lowe’s Companies by 5.9% in the 1st quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer’s stock worth $202,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Joseph Michael Mcfarland sold 43,810 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the completion of the sale, the executive vice president owned 66,566 shares of the company’s stock, valued at $18,145,891.60. This represents a 39.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marvin R. Ellison sold 40,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the sale, the chief executive officer directly owned 249,043 shares of the company’s stock, valued at $65,772,256.30. The trade was a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 92,931 shares of company stock worth $24,945,752 over the last 90 days. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

LOW has been the subject of several recent analyst reports. Mizuho lifted their price target on Lowe’s Companies from $280.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Wall Street Zen raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. lifted their price target on Lowe’s Companies from $280.00 to $283.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Oppenheimer lifted their price target on Lowe’s Companies from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, September 25th. Finally, Citigroup lowered their price target on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating for the company in a research report on Thursday, July 31st. Sixteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $282.59.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $238.30 on Thursday. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $280.64. The business has a 50-day simple moving average of $253.88 and a two-hundred day simple moving average of $236.15. The firm has a market cap of $133.65 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.09. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The business had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the previous year, the firm earned $4.10 EPS. Lowe’s Companies’s revenue was up 1.6% on a year-over-year basis. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. Lowe’s Companies’s dividend payout ratio is presently 39.44%.

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.