State Board of Administration of Florida Retirement System Sells 2,110 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Posted by on May 8th, 2023

State Board of Administration of Florida Retirement System lowered its position in Lamb Weston Holdings, Inc. (NYSE:LW – Get Rating) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,436 shares of the specialty retailer’s stock after selling 2,110 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of Lamb Weston worth $13,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. RE Dickinson Investment Advisors LLC increased its position in shares of Lamb Weston by 16.8% during the third quarter. RE Dickinson Investment Advisors LLC now owns 862 shares of the specialty retailer’s stock worth $67,000 after acquiring an additional 124 shares during the period. Yousif Capital Management LLC increased its position in shares of Lamb Weston by 0.6% during the fourth quarter. Yousif Capital Management LLC now owns 21,738 shares of the specialty retailer’s stock worth $1,943,000 after acquiring an additional 124 shares during the period. Avitas Wealth Management LLC increased its position in shares of Lamb Weston by 0.5% during the fourth quarter. Avitas Wealth Management LLC now owns 28,090 shares of the specialty retailer’s stock worth $2,510,000 after acquiring an additional 130 shares during the period. Great Valley Advisor Group Inc. increased its position in shares of Lamb Weston by 4.9% during the fourth quarter. Great Valley Advisor Group Inc. now owns 2,798 shares of the specialty retailer’s stock worth $250,000 after acquiring an additional 131 shares during the period. Finally, Hunter Associates Investment Management LLC increased its holdings in Lamb Weston by 3.3% during the third 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. Institutional investors own 89.87% of the company’s stock.

Lamb Weston Price Performance

Shares of LW opened at $112.09 on Monday. The company has a market cap of $16.33 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 0.58 and a beta of 0.53. Lamb Weston Holdings, Inc. has a twelve month low of $60.59 and a twelve month high of $113.03. The company has a quick ratio of 1.57, a current ratio of 2.59 and a debt-to-equity ratio of 4.43. The company has a 50 day moving average of $104.67 and a two-hundred day moving average of $95.85.

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. Lamb Weston had a net margin of 11.27% and a return on equity of 110.40%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $0.73 earnings per share. Lamb Weston’s revenue was up 26.0% compared to the same quarter last year. As a group, analysts predict that Lamb Weston Holdings, Inc. will post 4.51 earnings per share for the current fiscal year.

Lamb Weston Announces Dividend

The business 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 dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $1.12 annualized dividend and a dividend yield of 1.00%. Lamb Weston’s payout ratio is currently 29.95%.

Analysts Set New Price Targets

LW has been the topic of several research reports. Barclays lifted their price objective on shares of Lamb Weston from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, April 10th. StockNews.com initiated coverage on shares of Lamb Weston in a report on Thursday, March 16th. They set a “hold” rating on the stock. The Goldman Sachs Group lifted their price objective on shares of Lamb Weston from $97.00 to $107.00 in a report on Thursday, April 6th. Bank of America lifted their price objective on shares of Lamb Weston from $115.00 to $128.00 and gave the company a “buy” rating in a report on Monday, April 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lamb Weston from $112.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, April 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.

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Institutional Ownership by Quarter for Lamb Weston (NYSE:LW)

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