Boothbay Fund Management LLC Acquires Shares of 3,731 Lamb Weston Holdings, Inc. (NYSE:LW)

Posted by Defense World Staff on Mar 4th, 2023

Boothbay Fund Management LLC acquired a new stake in shares of Lamb Weston Holdings, Inc. (NYSE:LW – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,731 shares of the specialty retailer’s stock, valued at approximately $289,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Lamb Weston by 1.2% during the first quarter. Vanguard Group Inc. now owns 16,085,009 shares of the specialty retailer’s stock valued at $963,653,000 after acquiring an additional 198,274 shares during the last quarter. State Street Corp increased its position in Lamb Weston by 3.4% during the first quarter. State Street Corp now owns 5,224,012 shares of the specialty retailer’s stock valued at $312,971,000 after acquiring an additional 172,399 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Lamb Weston by 0.9% during the second quarter. Thrivent Financial for Lutherans now owns 3,606,920 shares of the specialty retailer’s stock valued at $257,750,000 after acquiring an additional 30,592 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Lamb Weston by 406.3% in the third quarter. Assenagon Asset Management S.A. now owns 2,163,982 shares of the specialty retailer’s stock worth $167,449,000 after purchasing an additional 1,736,583 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. grew its holdings in shares of Lamb Weston by 3.3% in the third quarter. Montrusco Bolton Investments Inc. now owns 2,089,338 shares of the specialty retailer’s stock worth $158,758,000 after purchasing an additional 66,356 shares during the last quarter. Institutional investors own 89.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LW shares. StockNews.com cut shares of Lamb Weston from a “buy” rating to a “hold” rating in a report on Friday, December 16th. Stifel Nicolaus upped their price target on shares of Lamb Weston from $90.00 to $107.00 in a report on Friday, January 6th. Bank of America upped their price target on shares of Lamb Weston from $105.00 to $115.00 in a report on Friday, January 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Lamb Weston from $101.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. Two 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.80.

Lamb Weston Stock Down 0.3 %

NYSE:LW opened at $101.98 on Friday. Lamb Weston Holdings, Inc. has a 1-year low of $49.71 and a 1-year high of $102.77. The company has a 50-day moving average of $97.11 and a 200 day moving average of $87.73. The firm has a market cap of $14.67 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 0.86 and a beta of 0.51. The company has a debt-to-equity ratio of 4.71, a current ratio of 1.96 and a quick ratio of 1.07.

Lamb Weston (NYSE:LW – Get Rating) last released its quarterly earnings data 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. Lamb Weston had a net margin of 10.50% and a return on equity of 107.83%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.16 billion. As a group, research analysts anticipate that Lamb Weston Holdings, Inc. will post 3.95 EPS for the current fiscal year.

Lamb Weston Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 3rd. Investors of record on Friday, February 3rd were paid a $0.28 dividend. The ex-dividend date was Thursday, February 2nd. This is a positive change from Lamb Weston’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a yield of 1.10%. Lamb Weston’s dividend payout ratio is 34.36%.

Insider Buying and Selling at Lamb Weston

In other Lamb Weston news, SVP Sharon L. Miller sold 5,000 shares of the stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the senior vice president now directly owns 54,117 shares of the company’s stock, valued at $5,411,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Lamb Weston news, SVP Sharon L. Miller sold 5,000 shares of the stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the senior vice president now directly owns 54,117 shares of the company’s stock, valued at $5,411,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Eryk J. Spytek sold 19,080 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $88.22, for a total transaction of $1,683,237.60. Following the sale, the senior vice president now directly owns 41,312 shares of the company’s stock, valued at $3,644,544.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,514 shares of company stock valued at $4,100,600. 0.80% of the stock is currently owned by insiders.

Lamb Weston Company Profile

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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.