I think they can display basic feelings like happiness, sadness, fear and anger. Other feelings, like love, are too complex and not wired into their mind.
As for recognizing their owner, I believe they do. They can remember smells and know which are bad, which are good, which won't bother them, and which ones are familiar. Dovah can tell the difference between me and my dad. I'm just like another tree to him, but he sees my dad as a predator and I've noticed him keeping an eye on him but not caring about me walking through the room or holding him.
I don't think they show affection. They have tolerant, intolerant, and "I don't care" and that's it. No "I love you, please take me out so we can spend more time together"
They're pretty simple creatures imo and pretty much just do what their instincts tell them to do.