Aviva PLC reduced its holdings in shares of Lamb Weston Holdings, Inc. (NYSE:LW – Get Rating) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,038 shares of the specialty retailer’s stock after selling 649 shares during the quarter. Aviva PLC’s holdings in Lamb Weston were worth $1,551,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Lamb Weston by 8.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,574 shares of the specialty retailer’s stock valued at $184,000 after purchasing an additional 197 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Lamb Weston in the 3rd quarter valued at about $515,000. Empirical Finance LLC purchased a new stake in Lamb Weston during the 3rd quarter valued at approximately $238,000. TownSquare Capital LLC raised its stake in Lamb Weston by 27.0% during the 2nd quarter. TownSquare Capital LLC now owns 15,570 shares of the specialty retailer’s stock valued at $1,113,000 after acquiring an additional 3,307 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in Lamb Weston during the 2nd quarter valued at approximately $2,105,000. 89.87% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have commented on LW shares. JPMorgan Chase & Co. upped their price objective on Lamb Weston from $101.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, January 6th. Stifel Nicolaus upped their price objective on Lamb Weston from $90.00 to $107.00 in a research note on Friday, January 6th. StockNews.com downgraded Lamb Weston from a “buy” rating to a “hold” rating in a research note on Friday, December 16th. Finally, Bank of America boosted their target price on Lamb Weston from $105.00 to $115.00 in a research report on Friday, January 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.80.
Lamb Weston Stock Performance
Lamb Weston (NYSE:LW – Get Rating) last released its quarterly earnings results on Thursday, January 5th. The specialty retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.54. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Lamb Weston had a return on equity of 107.83% and a net margin of 10.50%. Research analysts expect that Lamb Weston Holdings, Inc. will post 3.95 EPS for the current year.
Lamb Weston Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 3rd. Investors of record on Friday, February 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, February 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.12%. This is a boost from Lamb Weston’s previous quarterly dividend of $0.25. Lamb Weston’s dividend payout ratio is currently 34.36%.
Insider Buying and Selling
In related news, SVP Sharon L. Miller sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the sale, the senior vice president now owns 54,117 shares in the company, valued at approximately $5,411,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Lamb Weston news, SVP Sharon L. Miller sold 5,000 shares of the stock in a transaction on Friday, January 6th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the sale, the senior vice president now owns 54,117 shares in the company, valued at approximately $5,411,700. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Eryk J. Spytek sold 19,080 shares of the stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $88.22, for a total value of $1,683,237.60. Following the sale, the senior vice president now owns 41,312 shares in the company, valued at approximately $3,644,544.64. The disclosure for this sale can be found here. Insiders have sold a total of 43,514 shares of company stock worth $4,100,600 in the last quarter. Company insiders own 0.80% of the company’s stock.
About Lamb Weston
Lamb Weston Holdings, Inc engages in the production, distribution, and marketing of value-added frozen potato products. It operates through the following business segments: Global, Foodservice, Retail, and Other. The Global segment includes branded and private label frozen potato products sold in North America and international markets.
Read More
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