Westpac Banking Corp lifted its stake in Lamb Weston Holdings, Inc. (NYSE:LW – Free Report) by 5.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,182 shares of the specialty retailer’s stock after purchasing an additional 656 shares during the quarter. Westpac Banking Corp’s holdings in Lamb Weston were worth $1,273,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of Lamb Weston by 1.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 46,896 shares of the specialty retailer’s stock valued at $4,902,000 after purchasing an additional 880 shares during the period. Tredje AP fonden purchased a new position in Lamb Weston during the 4th quarter valued at about $2,598,000. CWM LLC grew its stake in Lamb Weston by 3.6% during the 1st quarter. CWM LLC now owns 4,045 shares of the specialty retailer’s stock valued at $423,000 after acquiring an additional 141 shares in the last quarter. Fifth Third Bancorp grew its stake in Lamb Weston by 19.1% during the 4th quarter. Fifth Third Bancorp now owns 3,430 shares of the specialty retailer’s stock valued at $307,000 after acquiring an additional 550 shares in the last quarter. Finally, ING Groep NV purchased a new position in Lamb Weston during the 4th quarter valued at about $15,589,000. Institutional investors and hedge funds own 86.26% of the company’s stock.
Insider Buying and Selling
In related news, insider Eryk J. Spytek sold 6,319 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $103.23, for a total value of $652,310.37. Following the completion of the sale, the insider now directly owns 1,052 shares in the company, valued at approximately $108,597.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Eryk J. Spytek sold 6,319 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $103.23, for a total transaction of $652,310.37. Following the completion of the transaction, the insider now directly owns 1,052 shares in the company, valued at $108,597.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Sharon L. Miller sold 4,350 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $115.00, for a total value of $500,250.00. Following the transaction, the senior vice president now owns 49,859 shares of the company’s stock, valued at $5,733,785. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Analysis on LW
Lamb Weston Trading Down 0.7 %
Shares of NYSE LW opened at $102.40 on Thursday. The business has a 50 day simple moving average of $111.79 and a 200 day simple moving average of $106.64. Lamb Weston Holdings, Inc. has a 52 week low of $74.91 and a 52 week high of $117.38. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.88 and a current ratio of 1.56. The stock has a market cap of $14.92 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.68 and a beta of 0.52.
Lamb Weston (NYSE:LW – Get Free Report) last posted its earnings results on Tuesday, July 25th. The specialty retailer reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.17. Lamb Weston had a return on equity of 84.65% and a net margin of 18.86%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the company earned $0.65 EPS. The company’s revenue for the quarter was up 46.9% on a year-over-year basis. On average, research analysts predict that Lamb Weston Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.
Lamb Weston Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be issued a $0.28 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.12 annualized dividend and a yield of 1.09%. Lamb Weston’s dividend payout ratio (DPR) is currently 16.18%.
Lamb Weston Profile
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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