Bank of New York Mellon Corp Has $50.77 Million Stock Holdings in Lamb Weston $LW

Bank of New York Mellon Corp reduced its position in shares of Lamb Weston (NYSE:LW) by 11.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,201,497 shares of the specialty retailer’s stock after selling 155,235 shares during the period. Bank of New York Mellon Corp owned 0.87% of Lamb Weston worth $50,775,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Arnhold LLC increased its stake in shares of Lamb Weston by 710.2% during the fourth quarter. Arnhold LLC now owns 38,217 shares of the specialty retailer’s stock worth $1,601,000 after purchasing an additional 33,500 shares during the period. Dana Investment Advisors Inc. boosted its stake in Lamb Weston by 44.8% in the 4th quarter. Dana Investment Advisors Inc. now owns 89,991 shares of the specialty retailer’s stock valued at $3,770,000 after purchasing an additional 27,835 shares during the period. SG Americas Securities LLC boosted its stake in Lamb Weston by 2,682.3% in the 4th quarter. SG Americas Securities LLC now owns 801,708 shares of the specialty retailer’s stock valued at $33,584,000 after purchasing an additional 772,893 shares during the period. Texas Yale Capital Corp. acquired a new position in Lamb Weston in the 4th quarter valued at $1,264,000. Finally, Assenagon Asset Management S.A. acquired a new position in Lamb Weston in the 4th quarter valued at $5,900,000. Institutional investors own 89.56% of the company’s stock.

Wall Street Analysts Forecast Growth

LW has been the subject of a number of research reports. Barclays lifted their target price on Lamb Weston from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lamb Weston from $46.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lamb Weston in a research report on Wednesday, July 8th. Stifel Nicolaus dropped their price objective on shares of Lamb Weston from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Thursday, April 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lamb Weston from $43.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.27.

Lamb Weston Stock Up 2.4%

LW stock opened at $49.17 on Friday. The company has a market cap of $6.79 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 6.37 and a beta of 0.47. The business has a 50-day simple moving average of $44.62 and a 200 day simple moving average of $44.22. Lamb Weston has a 52 week low of $37.62 and a 52 week high of $67.07. The company has a quick ratio of 0.69, a current ratio of 1.46 and a debt-to-equity ratio of 1.99.

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.