Jennison Associates LLC Has $95.11 Million Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Jennison Associates LLC grew its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 46.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 407,789 shares of the home improvement retailer's stock after acquiring an additional 129,780 shares during the period. Jennison Associates LLC owned about 0.07% of Lowe's Companies worth $95,109,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Gen Wealth Partners Inc grew its position in shares of Lowe's Companies by 1.9% during the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer's stock worth $534,000 after acquiring an additional 40 shares during the last quarter. Peachtree Investment Partners LLC grew its position in shares of Lowe's Companies by 3.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 1,286 shares of the home improvement retailer's stock worth $317,000 after acquiring an additional 42 shares during the last quarter. Second Line Capital LLC lifted its holdings in shares of Lowe's Companies by 0.9% during the fourth quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer's stock worth $1,183,000 after purchasing an additional 44 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of Lowe's Companies by 0.8% during the first 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 period. Finally, Dumont & Blake Investment Advisors LLC increased its position in shares of Lowe's Companies by 1.1% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer's stock valued at $1,066,000 after buying an additional 49 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. DA Davidson lowered their price target on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a report on Wednesday, May 21st. JPMorgan Chase & Co. decreased their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Morgan Stanley decreased their target price on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, Mizuho reiterated an "outperform" rating and set a $280.00 target price on shares of Lowe's Companies in a report on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $271.12.

Insider Activity at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the sale, the executive vice president directly owned 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Lowe's Companies Stock Up 0.3%

LOW stock traded up $0.56 during midday trading on Friday, reaching $219.14. 2,399,060 shares of the company's stock traded hands, compared to its average volume of 2,495,500. The company has a 50-day simple moving average of $223.61 and a two-hundred day simple moving average of $233.12. Lowe's Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The company has a market cap of $122.81 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 2.07 and a beta of 0.90.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $3.06 EPS. Equities research analysts forecast that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.19%. Lowe's Companies's payout ratio is 38.11%.

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.