Jennison Associates LLC Has $68.61 Million Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Jennison Associates LLC grew its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 43.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,009 shares of the home improvement retailer's stock after acquiring an additional 84,337 shares during the period. Jennison Associates LLC's holdings in Lowe's Companies were worth $68,613,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. StoneX Group Inc. acquired a new position in shares of Lowe's Companies in the 3rd quarter worth approximately $2,713,000. Principal Financial Group Inc. lifted its holdings in Lowe's Companies by 4.0% in the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer's stock worth $175,944,000 after acquiring an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in Lowe's Companies by 288.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer's stock valued at $4,696,000 after acquiring an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Lowe's Companies by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer's stock worth $98,104,000 after purchasing an additional 4,435 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Lowe's Companies by 308.0% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer's stock worth $6,988,000 after purchasing an additional 21,375 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Insider Activity

In other news, EVP Quonta D. Vance sold 7,198 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the transaction, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LOW has been the topic of several analyst reports. Loop Capital raised Lowe's Companies from a "hold" rating to a "buy" rating and increased their target price for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Evercore ISI lifted their price objective on shares of Lowe's Companies from $270.00 to $290.00 and gave the company an "in-line" rating in a research report on Thursday, December 12th. Truist Financial decreased their target price on shares of Lowe's Companies from $310.00 to $307.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company lifted their price target on Lowe's Companies from $280.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. Finally, DA Davidson raised their target price on Lowe's Companies from $240.00 to $270.00 and gave the company a "neutral" rating in a research report on Wednesday, November 20th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $280.85.

Lowe's Companies Trading Up 0.4 %

LOW stock traded up $1.05 during midday trading on Wednesday, reaching $258.28. The company had a trading volume of 1,693,226 shares, compared to its average volume of 2,187,792. The company has a 50 day moving average of $258.29 and a two-hundred day moving average of $257.71. Lowe's Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01. The company has a market capitalization of $145.84 billion, a P/E ratio of 21.54, a PEG ratio of 2.18 and a beta of 1.11.

Lowe's Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe's Companies's payout ratio is currently 38.37%.

Lowe's Companies Company 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.