CIBC Asset Management Inc reduced its stake in Lamb Weston Holdings, Inc. (NYSE:LW – Get Rating) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,701 shares of the specialty retailer’s stock after selling 944 shares during the period. CIBC Asset Management Inc’s holdings in Lamb Weston were worth $1,850,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Jacobs Levy Equity Management Inc. grew its holdings in Lamb Weston by 699.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,007,085 shares of the specialty retailer’s stock worth $77,928,000 after purchasing an additional 881,080 shares during the period. First Trust Advisors LP increased its position in Lamb Weston by 182.2% during the 4th quarter. First Trust Advisors LP now owns 860,867 shares of the specialty retailer’s stock valued at $76,927,000 after buying an additional 555,773 shares in the last quarter. Franklin Resources Inc. raised its stake in Lamb Weston by 95.6% during the fourth quarter. Franklin Resources Inc. now owns 1,095,389 shares of the specialty retailer’s stock valued at $97,884,000 after buying an additional 535,242 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Lamb Weston by 366.0% in the third quarter. Renaissance Technologies LLC now owns 546,600 shares of the specialty retailer’s stock worth $42,296,000 after acquiring an additional 429,300 shares during the last quarter. Finally, Parsifal Capital Management LP bought a new position in shares of Lamb Weston during the third quarter valued at $32,175,000. 89.87% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts recently commented on LW shares. Bank of America increased their price objective on shares of Lamb Weston from $115.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, April 10th. StockNews.com started coverage on shares of Lamb Weston in a report on Thursday, May 18th. They issued a “hold” rating for the company. Barclays increased their target price on Lamb Weston from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Monday, April 10th. Stifel Nicolaus started coverage on shares of Lamb Weston in a research note on Thursday, April 13th. They issued a “hold” rating and a $115.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Lamb Weston from $112.00 to $122.00 and gave the stock an “overweight” rating in a research note on Monday, April 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $118.40.
Insider Transactions at Lamb Weston
Lamb Weston Stock Up 0.2 %
Shares of LW opened at $113.62 on Friday. The firm has a fifty day moving average price of $110.64 and a 200-day moving average price of $100.67. The company has a current ratio of 2.59, a quick ratio of 1.57 and a debt-to-equity ratio of 4.43. The firm has a market capitalization of $16.55 billion, a P/E ratio of 30.38, a P/E/G ratio of 0.54 and a beta of 0.54. Lamb Weston Holdings, Inc. has a 12-month low of $62.62 and a 12-month high of $115.31.
Lamb Weston (NYSE:LW – Get Rating) last announced its quarterly earnings data on Thursday, April 6th. The specialty retailer reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.45. Lamb Weston had a return on equity of 110.40% and a net margin of 11.27%. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Lamb Weston’s revenue was up 26.0% compared to the same quarter last year. Equities research analysts expect that Lamb Weston Holdings, Inc. will post 4.51 earnings per share for the current year.
Lamb Weston Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Friday, May 5th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $1.12 annualized dividend and a yield of 0.99%. Lamb Weston’s dividend payout ratio (DPR) is 29.95%.
About Lamb Weston
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels.
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