Bank of New York Mellon Corp Sells 228,546 Shares of Lamb Weston (NYSE:LW)

Bank of New York Mellon Corp lessened its stake in Lamb Weston (NYSE:LW) by 24.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 705,458 shares of the specialty retailer’s stock after selling 228,546 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.50% of Lamb Weston worth $37,601,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LW. Proficio Capital Partners LLC purchased a new stake in shares of Lamb Weston during the fourth quarter valued at approximately $1,932,000. Raymond James Financial Inc. purchased a new stake in shares of Lamb Weston during the fourth quarter valued at approximately $19,802,000. Farther Finance Advisors LLC increased its position in shares of Lamb Weston by 46.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,235 shares of the specialty retailer’s stock valued at $83,000 after acquiring an additional 394 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Lamb Weston by 10.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 18,944 shares of the specialty retailer’s stock valued at $1,266,000 after acquiring an additional 1,735 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in Lamb Weston by 19.2% in the fourth quarter. Natixis Advisors LLC now owns 201,249 shares of the specialty retailer’s stock worth $13,449,000 after buying an additional 32,400 shares during the last quarter. Institutional investors own 89.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays cut their target price on Lamb Weston from $69.00 to $61.00 and set an “overweight” rating for the company in a research note on Monday, May 12th. Stifel Nicolaus set a $56.00 target price on Lamb Weston and gave the stock a “hold” rating in a research note on Thursday, April 24th. Bank of America cut their target price on Lamb Weston from $60.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $57.00 target price on shares of Lamb Weston in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company reduced their target price on Lamb Weston from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 9th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $67.64.

Lamb Weston Stock Performance

Shares of LW opened at $51.10 on Tuesday. The business’s fifty day simple moving average is $53.09 and its two-hundred day simple moving average is $55.23. The company has a current ratio of 1.35, a quick ratio of 0.58 and a debt-to-equity ratio of 2.25. Lamb Weston has a 12 month low of $47.90 and a 12 month high of $83.98. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 1.14 and a beta of 0.46.

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.