It may be dead but peonies are hard to kill. If the root still has some heft and moisture it's probably alive. Remember, peonies are really Northern demonstration plants and need a lot of cold exposure to do well. So here in the South you plant them shallow--with buds at the surface--and do not mulch in the winter, only the summer. Plant it now and water it well. Or,better yet, take it back to Lowes and get a replacement--they are pretty laissez-faire about returns if you keep the receipt.

Peonies are not a bulb and should be potted up as soon as purchased. I keep mine in a gallon pot through the first season and then plant a much stronger peony in the ground either in the fall or next spring. Al

I support the notion that bareroot peonies should be poted first and then moved into grounds after full year of growth in a pot.
That would serve two purposes, first, they will be able to grow in most favorable conditions while still being babies and second, since potted peonies could be planted at any time of the year you'll have more time to think about their future PERMANENT place in landscape by moving pots several times during the summer thus avoiding moving it later if you plant them in the ground and you are wrong. Been there, done that.

Hello, my 2nd post on Gardenweb (sorry, the first went to the Roses :) ) but I'm excited about the peony roots I bought at a Home Depot. They were on sale which tells me that they wanted to move them because:
a) the peonies and other boxed bareroots are getting old and dying and
b) they need to make room for the FALL BULBS!! ( i can't wait)

I brought them home and potted them up in potting soil with some compost on top, at least I think I put a bit on top. So after reading this thread, I should leave them in the pots for a year? I just did this yesterday so I shouldn't expect any bloom from them until next spring? Some of the eyes are about 1/2" to 1" but will they die back or sprout a bit of green then die back? I was wondering if they would play "catch up" to the peony plants that some other people in the neighborhood have that are about 12" to 18" and budding already.
Thanks!

Hello KimberlySC....Just curious...did your Peony Root make it?......GardenLove