Trek Financial LLC purchased a new stake in Lamb Weston Holdings, Inc. (NYSE:LW – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 49,043 shares of the specialty retailer’s stock, valued at approximately $5,126,000.
A number of other hedge funds and other institutional investors have also modified their holdings of LW. Point72 Asset Management L.P. increased its holdings in shares of Lamb Weston by 155.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,928,598 shares of the specialty retailer’s stock valued at $172,340,000 after purchasing an additional 1,173,415 shares in the last quarter. Wellington Management Group LLP grew its holdings in Lamb Weston by 3,242.8% during the 1st quarter. Wellington Management Group LLP now owns 1,163,334 shares of the specialty retailer’s stock worth $121,592,000 after acquiring an additional 1,128,533 shares during the period. Amundi grew its holdings in Lamb Weston by 73.3% during the 4th quarter. Amundi now owns 2,368,387 shares of the specialty retailer’s stock worth $230,302,000 after acquiring an additional 1,002,040 shares during the period. FMR LLC grew its holdings in Lamb Weston by 51.8% during the 1st quarter. FMR LLC now owns 2,518,144 shares of the specialty retailer’s stock worth $263,196,000 after acquiring an additional 859,733 shares during the period. Finally, AGF Management Ltd. acquired a new stake in Lamb Weston during the 1st quarter worth $84,036,000. Institutional investors and hedge funds own 85.77% of the company’s stock.
Analyst Ratings Changes
A number of analysts have commented on LW shares. Stifel Nicolaus raised shares of Lamb Weston from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a report on Friday, August 4th. Barclays lifted their target price on shares of Lamb Weston from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, July 20th. The Goldman Sachs Group raised shares of Lamb Weston from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $125.00 to $127.00 in a research report on Monday, September 4th. Finally, StockNews.com began coverage on shares of Lamb Weston in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Lamb Weston currently has a consensus rating of “Moderate Buy” and an average price target of $123.40.
Insiders Place Their Bets
In other Lamb Weston news, insider Eryk J. Spytek sold 6,319 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $103.23, for a total transaction of $652,310.37. Following the sale, the insider now directly owns 1,052 shares of the company’s stock, valued at approximately $108,597.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.66% of the company’s stock.
Lamb Weston Trading Up 0.0 %
LW opened at $98.40 on Friday. The stock has a market capitalization of $14.35 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.52 and a beta of 0.54. Lamb Weston Holdings, Inc. has a 12 month low of $74.91 and a 12 month high of $117.38. The firm’s fifty day simple moving average is $103.16 and its 200 day simple moving average is $106.33. The company has a current ratio of 1.56, a quick ratio of 0.88 and a debt-to-equity ratio of 2.30.
Lamb Weston (NYSE:LW – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The specialty retailer reported $1.22 EPS for the quarter, beating the consensus estimate of $1.05 by $0.17. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Lamb Weston had a net margin of 18.86% and a return on equity of 84.65%. The firm’s revenue was up 46.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. As a group, research analysts anticipate that Lamb Weston Holdings, Inc. will post 5.26 EPS for the current fiscal year.
Lamb Weston Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.12 annualized dividend and a yield of 1.14%. Lamb Weston’s dividend payout ratio (DPR) is presently 16.18%.
About Lamb Weston
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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