Jennison Associates LLC Sells 3,488,086 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

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Jennison Associates LLC reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 79.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 899,708 shares of the home improvement retailer’s stock after selling 3,488,086 shares during the quarter. Jennison Associates LLC owned about 0.11% of Lowe’s Companies worth $90,790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. Boston Partners grew its stake in shares of Lowe’s Companies by 20.3% during the first quarter. Boston Partners now owns 4,900,149 shares of the home improvement retailer’s stock valued at $536,420,000 after purchasing an additional 826,414 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Lowe’s Companies by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 10,336,009 shares of the home improvement retailer’s stock valued at $952,946,000 after purchasing an additional 728,740 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Lowe’s Companies by 395.6% during the first quarter. Nordea Investment Management AB now owns 821,674 shares of the home improvement retailer’s stock valued at $89,950,000 after purchasing an additional 655,882 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in Lowe’s Companies by 14.9% in the first quarter. Artisan Partners Limited Partnership now owns 3,735,627 shares of the home improvement retailer’s stock valued at $408,939,000 after acquiring an additional 483,822 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Lowe’s Companies by 404.0% in the second quarter. First Trust Advisors LP now owns 456,061 shares of the home improvement retailer’s stock valued at $46,021,000 after acquiring an additional 365,571 shares during the last quarter. 75.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:LOW traded down $1.77 during midday trading on Friday, reaching $106.39. 4,698,442 shares of the company were exchanged, compared to its average volume of 5,769,456. Lowe’s Companies, Inc. has a fifty-two week low of $84.75 and a fifty-two week high of $118.23. The company has a quick ratio of 0.24, a current ratio of 1.06 and a debt-to-equity ratio of 7.80. The stock has a fifty day simple moving average of $101.70 and a two-hundred day simple moving average of $103.74. The firm has a market cap of $84.68 billion, a PE ratio of 20.70, a P/E/G ratio of 1.41 and a beta of 1.36.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. The business had revenue of $20.99 billion for the quarter, compared to analyst estimates of $20.96 billion. During the same period last year, the business posted $2.07 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. As a group, analysts forecast that Lowe’s Companies, Inc. will post 5.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $2.20 annualized dividend and a yield of 2.07%. Lowe’s Companies’s payout ratio is currently 42.80%.

In other Lowe’s Companies news, EVP Donald Frieson purchased 2,030 shares of the stock in a transaction on Wednesday, June 19th. The shares were purchased at an average cost of $98.69 per share, for a total transaction of $200,340.70. Following the purchase, the executive vice president now owns 10,980 shares of the company’s stock, valued at $1,083,616.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on the stock. Credit Suisse Group reaffirmed a “neutral” rating and issued a $114.00 price objective (up from $99.00) on shares of Lowe’s Companies in a research note on Thursday. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective (up from $105.00) on shares of Lowe’s Companies in a research note on Thursday. Zacks Investment Research raised shares of Lowe’s Companies from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $125.00 price objective (up from $110.00) on shares of Lowe’s Companies in a research note on Thursday. Finally, Goldman Sachs Group assumed coverage on shares of Lowe’s Companies in a research note on Thursday, July 11th. They issued a “buy” rating and a $119.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $116.09.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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

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