Envestnet Asset Management Inc. Decreases Stock Holdings in Lamb Weston $LW

Envestnet Asset Management Inc. decreased its holdings in shares of Lamb Weston (NYSE:LW) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 768,299 shares of the specialty retailer’s stock after selling 23,648 shares during the quarter. Envestnet Asset Management Inc. owned about 0.55% of Lamb Weston worth $44,623,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LW. AlphaQuest LLC grew its position in Lamb Weston by 115.5% in the third quarter. AlphaQuest LLC now owns 446 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 239 shares in the last quarter. Quent Capital LLC bought a new position in shares of Lamb Weston during the 3rd quarter valued at approximately $29,000. Motco purchased a new position in Lamb Weston during the third quarter worth $30,000. Blue Trust Inc. increased its position in Lamb Weston by 333.3% during the third quarter. Blue Trust Inc. now owns 637 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 490 shares during the last quarter. Finally, City State Bank raised its stake in shares of Lamb Weston by 86.8% in the second quarter. City State Bank now owns 779 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 362 shares during the period. 89.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LW shares. BNP Paribas Exane set a $48.00 price objective on shares of Lamb Weston in a research report on Monday, December 22nd. Bank of America cut their price objective on Lamb Weston from $66.00 to $53.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Stifel Nicolaus decreased their target price on Lamb Weston from $63.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, December 22nd. Sanford C. Bernstein reissued a “market perform” rating and set a $46.00 target price on shares of Lamb Weston in a research note on Monday, December 29th. Finally, Jefferies Financial Group raised their price target on shares of Lamb Weston from $67.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Lamb Weston currently has an average rating of “Hold” and an average price target of $53.00.

Insider Transactions at Lamb Weston

In related news, insider Jan Eli B. Craps bought 50,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were bought at an average price of $48.65 per share, for a total transaction of $2,432,500.00. Following the completion of the purchase, the insider directly owned 300,000 shares of the company’s stock, valued at approximately $14,595,000. This trade represents a 20.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Lamb Weston Stock Down 0.2%

Shares of Lamb Weston stock opened at $50.55 on Wednesday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.43 and a quick ratio of 0.64. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 7.75 and a beta of 0.45. The firm’s 50-day moving average is $47.64 and its two-hundred day moving average is $54.73. Lamb Weston has a 1 year low of $39.79 and a 1 year high of $67.07.

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

Lamb Weston Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 30th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, January 30th. This is an increase from Lamb Weston’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 3.0%. Lamb Weston’s dividend payout ratio is 54.68%.

Lamb Weston Company 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.