Retirement Systems of Alabama Cuts Position in Lamb Weston Holdings, Inc. (NYSE:LW)

Posted by Defense World Staff on May 5th, 2023

Retirement Systems of Alabama reduced its stake in shares of Lamb Weston Holdings, Inc. (NYSE:LW – Get Rating) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,078 shares of the specialty retailer’s stock after selling 1,659 shares during the quarter. Retirement Systems of Alabama’s holdings in Lamb Weston were worth $4,118,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. RE Dickinson Investment Advisors LLC raised its holdings in shares of Lamb Weston by 16.8% during the 3rd quarter. RE Dickinson Investment Advisors LLC now owns 862 shares of the specialty retailer’s stock valued at $67,000 after buying an additional 124 shares during the period. Yousif Capital Management LLC raised its holdings in shares of Lamb Weston by 0.6% during the 4th quarter. Yousif Capital Management LLC now owns 21,738 shares of the specialty retailer’s stock valued at $1,943,000 after buying an additional 124 shares during the period. Avitas Wealth Management LLC raised its holdings in shares of Lamb Weston by 0.5% during the 4th quarter. Avitas Wealth Management LLC now owns 28,090 shares of the specialty retailer’s stock valued at $2,510,000 after buying an additional 130 shares during the period. Great Valley Advisor Group Inc. raised its holdings in shares of Lamb Weston by 4.9% during the 4th quarter. Great Valley Advisor Group Inc. now owns 2,798 shares of the specialty retailer’s stock valued at $250,000 after buying an additional 131 shares during the period. Finally, Hunter Associates Investment Management LLC raised its holdings in shares of Lamb Weston by 3.3% during the 3rd quarter. Hunter Associates Investment Management LLC now owns 4,328 shares of the specialty retailer’s stock valued at $324,000 after buying an additional 138 shares during the period. 89.87% of the stock is currently owned by hedge funds and other institutional investors.

Lamb Weston Stock Down 0.1 %

Shares of Lamb Weston stock opened at $111.16 on Friday. The business’s fifty day moving average price is $104.43 and its two-hundred day moving average price is $95.50. The company has a debt-to-equity ratio of 4.43, a current ratio of 2.59 and a quick ratio of 1.57. The company has a market capitalization of $16.20 billion, a P/E ratio of 29.72, a PEG ratio of 0.58 and a beta of 0.53. Lamb Weston Holdings, Inc. has a 1-year low of $60.59 and a 1-year high of $113.03.

Lamb Weston (NYSE:LW – Get Rating) last announced its earnings results on Thursday, April 6th. The specialty retailer reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.45. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.16 billion. Lamb Weston had a return on equity of 110.40% and a net margin of 11.27%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 EPS. As a group, research analysts forecast that Lamb Weston Holdings, Inc. will post 4.51 EPS for the current year.

Lamb Weston Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Thursday, May 4th. Lamb Weston’s dividend payout ratio is presently 29.95%.

Wall Street Analyst Weigh In

LW has been the topic of several analyst reports. Barclays raised their target price on Lamb Weston from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, April 10th. Stifel Nicolaus initiated coverage on Lamb Weston in a research note on Thursday, April 13th. They set a “hold” rating and a $115.00 price objective for the company. Bank of America raised their price objective on Lamb Weston from $115.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, April 10th. The Goldman Sachs Group lifted their target price on Lamb Weston from $97.00 to $107.00 in a research report on Thursday, April 6th. Finally, StockNews.com began coverage on Lamb Weston in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $118.40.

About Lamb Weston

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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.