Principal Financial Group Inc. Sells 4,858 Shares of Lamb Weston (NYSE:LW)

Principal Financial Group Inc. cut its stake in shares of Lamb Weston (NYSE:LW) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 161,526 shares of the specialty retailer’s stock after selling 4,858 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Lamb Weston worth $8,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Sei Investments Co. lifted its holdings in shares of Lamb Weston by 10.3% in the 4th quarter. Sei Investments Co. now owns 116,036 shares of the specialty retailer’s stock worth $7,755,000 after acquiring an additional 10,855 shares during the last quarter. Atlas FRM LLC bought a new stake in shares of Lamb Weston in the 4th quarter worth approximately $20,383,000. Soviero Asset Management LP bought a new stake in shares of Lamb Weston in the 4th quarter worth approximately $3,342,000. Siemens Fonds Invest GmbH bought a new stake in shares of Lamb Weston in the 4th quarter worth approximately $823,000. Finally, Keystone Financial Services LLC bought a new stake in shares of Lamb Weston in the 4th quarter worth approximately $623,000. 89.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LW has been the topic of several analyst reports. Bank of America decreased their target price on shares of Lamb Weston from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $57.00 target price on shares of Lamb Weston in a research note on Wednesday, March 19th. Stifel Nicolaus set a $56.00 target price on shares of Lamb Weston and gave the stock a “hold” rating in a research note on Thursday, April 24th. Wells Fargo & Company decreased their target price on shares of Lamb Weston from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 9th. Finally, Barclays reduced their price objective on shares of Lamb Weston from $69.00 to $61.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.64.

Lamb Weston Stock Performance

Shares of LW stock opened at $51.10 on Tuesday. Lamb Weston has a 12 month low of $47.90 and a 12 month high of $83.98. The stock has a market cap of $7.21 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46. The company has a current ratio of 1.35, a quick ratio of 0.58 and a debt-to-equity ratio of 2.25. The company’s fifty day moving average price is $53.09 and its 200-day moving average price is $55.23.

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.