Jennison Associates LLC Cuts Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Jennison Associates LLC cut its Lowe’s stake by 59.1% in the first quarter, selling 403,139 shares and ending with 279,549 shares valued at about $66.1 million.
• Lowe’s reported better-than-expected quarterly results, with EPS of $3.03 versus $2.97 estimated and revenue of $23.08 billion, up 10.3% year over year.
• The company raised its quarterly dividend to $1.25 per share from $1.20, while analysts currently maintain a consensus rating of Moderate Buy with an average price target of $264.57.

Jennison Associates LLC decreased its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 59.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 279,549 shares of the home improvement retailer's stock after selling 403,139 shares during the period. Jennison Associates LLC's holdings in Lowe's Companies were worth $66,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in LOW. Swiss RE Ltd. purchased a new position in Lowe's Companies in the fourth quarter worth $25,000. Wilkerson Advisory Group LLC purchased a new stake in Lowe's Companies during the fourth quarter valued at about $27,000. OLD Second National Bank of Aurora lifted its stake in Lowe's Companies by 52.5% during the fourth quarter. OLD Second National Bank of Aurora now owns 122 shares of the home improvement retailer's stock worth $29,000 after purchasing an additional 42 shares during the last quarter. Sankala Group LLC bought a new stake in Lowe's Companies during the fourth quarter worth about $33,000. Finally, Triumph Capital Management purchased a new position in shares of Lowe's Companies in the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Down 0.1%

NYSE LOW opened at $208.57 on Monday. The firm has a market cap of $116.95 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 2.64 and a beta of 0.86. Lowe's Companies, Inc. has a 1-year low of $203.40 and a 1-year high of $293.06. The stock has a 50-day moving average of $217.04 and a 200-day moving average of $241.56.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The home improvement retailer reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.06. The business had revenue of $23.08 billion for the quarter, compared to analyst estimates of $22.98 billion. Lowe's Companies had a negative return on equity of 67.96% and a net margin of 7.51%.Lowe's Companies's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $2.92 EPS. Lowe's Companies has set its FY 2026 guidance at 12.250-12.750 EPS. As a group, equities research analysts forecast that Lowe's Companies, Inc. will post 12.48 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be paid a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 2.4%. Lowe's Companies's payout ratio is presently 40.57%.

Analysts Set New Price Targets

LOW has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price objective on Lowe's Companies from $325.00 to $279.00 and set an "overweight" rating on the stock in a research report on Thursday, May 21st. Benchmark started coverage on Lowe's Companies in a research note on Tuesday, May 12th. They issued a "hold" rating for the company. Wells Fargo & Company reduced their price target on shares of Lowe's Companies from $260.00 to $255.00 and set an "overweight" rating on the stock in a research report on Thursday, May 21st. Raymond James Financial downgraded shares of Lowe's Companies from a "market perform" rating to a "market perform" rating in a research note on Tuesday, May 12th. Finally, Bank of America lowered their price objective on shares of Lowe's Companies from $260.00 to $257.00 and set a "neutral" rating for the company in a report on Thursday, May 21st. Twenty-three research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $264.57.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 9,330 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $224.81, for a total transaction of $2,097,477.30. Following the completion of the sale, the executive vice president directly owned 16,142 shares in the company, valued at $3,628,883.02. This represents a 36.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Janice Dupre sold 14,150 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $221.90, for a total transaction of $3,139,885.00. Following the sale, the executive vice president directly owned 39,785 shares of the company's stock, valued at $8,828,291.50. The trade was a 26.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,980 shares of company stock valued at $5,796,937 over the last three months. 0.29% of the stock is owned by company insiders.

About Lowe's Companies

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.

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