Jennison Associates LLC reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 59.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 279,549 shares of the home improvement retailer’s stock after selling 403,139 shares during the quarter. Jennison Associates LLC’s holdings in Lowe’s Companies were worth $66,052,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LOW. Swiss RE Ltd. purchased a new stake in Lowe’s Companies in the fourth quarter worth $25,000. Wilkerson Advisory Group LLC purchased a new position in Lowe’s Companies during the 4th quarter valued at $27,000. OLD Second National Bank of Aurora raised its holdings in Lowe’s Companies by 52.5% in the 4th 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 in the last quarter. Sankala Group LLC bought a new position in Lowe’s Companies in the 4th quarter worth $33,000. Finally, Triumph Capital Management purchased a new stake in shares of Lowe’s Companies in the 3rd quarter worth about $34,000. Institutional investors own 74.06% of the company’s stock.
Wall Street Analyst Weigh In
LOW has been the topic of a number of research reports. Gordon Haskett cut their target price on shares of Lowe’s Companies from $280.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Benchmark started coverage on shares of Lowe’s Companies in a research note on Tuesday, May 12th. They issued a “hold” rating for the company. Craig Hallum upgraded shares of Lowe’s Companies to a “buy” rating in a report on Tuesday, May 12th. Mizuho cut their price objective on Lowe’s Companies from $294.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, May 21st. Finally, Robert W. Baird reduced their target price on Lowe’s Companies from $320.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Twenty-three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $264.57.
Insider Activity
In other news, EVP Janice Dupre sold 14,150 shares of Lowe’s Companies stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $221.90, for a total value of $3,139,885.00. Following the completion of the transaction, the executive vice president 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Juliette Williams Pryor sold 9,330 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 16,142 shares in the company, valued at $3,628,883.02. This trade represents a 36.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 25,980 shares of company stock worth $5,796,937 over the last three months. 0.29% of the stock is currently owned by corporate insiders.
Lowe’s Companies Stock Performance
Shares of NYSE LOW opened at $208.57 on Monday. Lowe’s Companies, Inc. has a fifty-two week low of $203.40 and a fifty-two week high of $293.06. The company has a 50 day simple moving average of $217.04 and a two-hundred day simple moving average of $241.56. The company has a market capitalization of $116.95 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 2.64 and a beta of 0.86.
Lowe’s Companies (NYSE:LOW – Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The home improvement retailer reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.06. The firm had revenue of $23.08 billion for the quarter, compared to analysts’ expectations of $22.98 billion. Lowe’s Companies had a negative return on equity of 67.96% and a net margin of 7.51%.The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.92 EPS. Lowe’s Companies has set its FY 2026 guidance at 12.250-12.750 EPS. On average, 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 22nd will be issued a dividend of $1.25 per share. The ex-dividend date is Wednesday, July 22nd. This is a boost 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 dividend payout ratio is 40.57%.
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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