Envestnet Asset Management Inc. increased its stake in Lamb Weston Holdings, Inc. (NYSE:LW – Free Report) by 22.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 250,671 shares of the specialty retailer’s stock after purchasing an additional 46,174 shares during the quarter. Envestnet Asset Management Inc. owned about 0.17% of Lamb Weston worth $20,902,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of LW. Bank of Hawaii lifted its holdings in Lamb Weston by 1.9% in the 1st quarter. Bank of Hawaii now owns 5,200 shares of the specialty retailer’s stock valued at $544,000 after acquiring an additional 96 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Lamb Weston by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,400 shares of the specialty retailer’s stock valued at $982,000 after acquiring an additional 100 shares during the last quarter. Huntington National Bank lifted its holdings in Lamb Weston by 4.2% in the 4th quarter. Huntington National Bank now owns 2,531 shares of the specialty retailer’s stock valued at $226,000 after acquiring an additional 102 shares during the last quarter. Greenleaf Trust lifted its holdings in Lamb Weston by 3.4% in the 1st quarter. Greenleaf Trust now owns 3,235 shares of the specialty retailer’s stock valued at $338,000 after acquiring an additional 107 shares during the last quarter. Finally, Czech National Bank lifted its holdings in Lamb Weston by 0.6% in the 1st quarter. Czech National Bank now owns 16,947 shares of the specialty retailer’s stock valued at $1,771,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 85.77% of the company’s stock.
Insider Buying and Selling
In related news, insider Eryk J. Spytek sold 6,319 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $103.23, for a total value of $652,310.37. Following the transaction, the insider now owns 1,052 shares in the company, valued at $108,597.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.66% of the stock is currently owned by corporate insiders.
Lamb Weston Price Performance
Lamb Weston (NYSE:LW – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The specialty retailer reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.17. Lamb Weston had a return on equity of 84.65% and a net margin of 18.86%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The firm’s revenue was up 46.9% on a year-over-year basis. Equities research analysts expect that Lamb Weston Holdings, Inc. will post 5.21 EPS for the current fiscal year.
Lamb Weston Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 1.15%. Lamb Weston’s dividend payout ratio is currently 16.18%.
Analyst Ratings Changes
A number of research firms have commented on LW. StockNews.com began coverage on shares of Lamb Weston in a research note on Thursday, August 17th. They set a “hold” rating for the company. Barclays upped their price objective on shares of Lamb Weston from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, July 20th. Finally, Stifel Nicolaus raised shares of Lamb Weston from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Friday, August 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Lamb Weston currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.40.
Lamb Weston Profile
Lamb Weston Holdings, Inc produces, distributes, and markets frozen potato products worldwide. The company operates through four segments: Global, Foodservice, Retail, and Other. It offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels.
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