abrdn plc Boosts Holdings in Lamb Weston Holdings, Inc. (NYSE:LW)

abrdn plc boosted its position in Lamb Weston Holdings, Inc. (NYSE:LW) by 70.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 60,959 shares of the specialty retailer’s stock after purchasing an additional 25,129 shares during the quarter. abrdn plc’s holdings in Lamb Weston were worth $6,589,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Trust Co. NA increased its holdings in shares of Lamb Weston by 17.6% in the 3rd quarter. Private Trust Co. NA now owns 1,084 shares of the specialty retailer’s stock worth $100,000 after buying an additional 162 shares during the last quarter. Czech National Bank increased its holdings in shares of Lamb Weston by 47.7% in the 3rd quarter. Czech National Bank now owns 25,482 shares of the specialty retailer’s stock worth $2,356,000 after buying an additional 8,234 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Lamb Weston by 19.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 72,830 shares of the specialty retailer’s stock worth $6,734,000 after buying an additional 11,861 shares during the last quarter. Golden State Equity Partners bought a new position in shares of Lamb Weston during the 3rd quarter valued at $713,000. Finally, Cavalier Investments LLC grew its holdings in shares of Lamb Weston by 3.7% during the 3rd quarter. Cavalier Investments LLC now owns 28,294 shares of the specialty retailer’s stock valued at $2,616,000 after purchasing an additional 1,013 shares during the last quarter. 89.56% of the stock is currently owned by hedge funds and other institutional investors.

Lamb Weston Price Performance

Shares of Lamb Weston stock opened at $83.85 on Friday. The firm has a market cap of $12.11 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.36 and a beta of 0.72. Lamb Weston Holdings, Inc. has a 12-month low of $77.41 and a 12-month high of $117.38. The company has a quick ratio of 0.52, a current ratio of 1.19 and a debt-to-equity ratio of 1.81. The company’s fifty day simple moving average is $95.51 and its two-hundred day simple moving average is $98.47.

Lamb Weston (NYSE:LW) last posted its earnings results on Thursday, April 4th. The specialty retailer reported $1.20 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.20). Lamb Weston had a return on equity of 50.74% and a net margin of 16.71%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, equities analysts expect that Lamb Weston Holdings, Inc. will post 5.52 EPS for the current year.

Lamb Weston Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 3rd will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $1.44 annualized dividend and a dividend yield of 1.72%. Lamb Weston’s dividend payout ratio is 19.23%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Lamb Weston from $128.00 to $98.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. Citigroup reduced their target price on shares of Lamb Weston from $132.00 to $106.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Barclays reduced their target price on shares of Lamb Weston from $125.00 to $105.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. Stifel Nicolaus reduced their target price on shares of Lamb Weston from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Bank of America reduced their target price on shares of Lamb Weston from $138.00 to $113.00 and set a “buy” rating on the stock in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Lamb Weston has an average rating of “Moderate Buy” and an average target price of $117.40.

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.