Adams Diversified Equity Fund Inc. Takes Position in Lamb Weston $LW

Adams Diversified Equity Fund Inc. purchased a new position in shares of Lamb Weston (NYSE:LW) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 92,900 shares of the specialty retailer’s stock, valued at approximately $5,396,000. Adams Diversified Equity Fund Inc. owned 0.07% of Lamb Weston at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Norges Bank bought a new position in Lamb Weston in the second quarter valued at approximately $119,413,000. Ion Asset Management Ltd. acquired a new position in shares of Lamb Weston in the 2nd quarter valued at $84,379,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Lamb Weston by 989.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 704,239 shares of the specialty retailer’s stock worth $36,515,000 after purchasing an additional 639,615 shares during the last quarter. BROOKFIELD Corp ON boosted its position in shares of Lamb Weston by 95.8% in the 1st quarter. BROOKFIELD Corp ON now owns 1,016,266 shares of the specialty retailer’s stock worth $54,167,000 after purchasing an additional 497,266 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of Lamb Weston by 128.5% during the second quarter. Swedbank AB now owns 600,000 shares of the specialty retailer’s stock worth $31,110,000 after purchasing an additional 337,400 shares during the period. 89.56% of the stock is currently owned by institutional investors and hedge funds.

Lamb Weston Price Performance

NYSE LW opened at $41.56 on Wednesday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.64 and a current ratio of 1.43. Lamb Weston has a 52-week low of $41.08 and a 52-week high of $67.07. The business has a 50 day simple moving average of $54.99 and a 200 day simple moving average of $56.09. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 6.10 and a beta of 0.45.

Lamb Weston (NYSE:LW) last released its quarterly earnings results on Friday, December 19th. The specialty retailer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Lamb Weston had a net margin of 6.06% and a return on equity of 27.71%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the prior year, the company earned $0.66 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts anticipate that Lamb Weston will post 3.1 earnings per share for the current fiscal year.

Lamb Weston Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.38 per share. This is a boost from Lamb Weston’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, January 30th. This represents a $1.52 dividend on an annualized basis and a yield of 3.7%. Lamb Weston’s dividend payout ratio is currently 53.24%.

Wall Street Analyst Weigh In

Several research firms have weighed in on LW. Cowen reissued a “hold” rating on shares of Lamb Weston in a research note on Wednesday, October 1st. Cfra Research raised Lamb Weston to a “hold” rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Lamb Weston from $62.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, December 22nd. BNP Paribas Exane cut shares of Lamb Weston from an “outperform” rating to a “neutral” rating in a report on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Lamb Weston from $61.00 to $49.00 and set a “hold” rating on the stock in a report on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Lamb Weston currently has an average rating of “Hold” and an average price target of $54.18.

Lamb Weston Profile

Lamb Weston, traded on the NYSE under the symbol LW, is a leading global processor and supplier of frozen potato products. The company’s portfolio includes a variety of potato-based items such as French fries, potato wedges, hash browns and specialty cuts tailored to the foodservice and retail grocery channels. Lamb Weston serves quick-service restaurants, full-service operators, grocery chains and food distributors, offering customized product formats, packaging solutions and seasoning options to meet evolving customer demands.

Founded in 1950 and headquartered in Eagle, Idaho, Lamb Weston has grown from a regional processor into one of the world’s largest producers of frozen potato products.