Swiss National Bank Lowers Position in Lamb Weston Holdings, Inc. (NYSE:LW)

Posted by Defense World Staff on Aug 20th, 2023

Swiss National Bank trimmed its position in shares of Lamb Weston Holdings, Inc. (NYSE:LW – Free Report) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 570,800 shares of the specialty retailer’s stock after selling 13,500 shares during the period. Swiss National Bank owned about 0.39% of Lamb Weston worth $59,660,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Lamb Weston by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 16,085,009 shares of the specialty retailer’s stock valued at $963,653,000 after buying an additional 198,274 shares in the last quarter. State Street Corp raised its holdings in shares of Lamb Weston by 3.4% during the 1st quarter. State Street Corp now owns 5,224,012 shares of the specialty retailer’s stock valued at $312,971,000 after buying an additional 172,399 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Lamb Weston by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 2,974,490 shares of the specialty retailer’s stock valued at $265,320,000 after buying an additional 154,606 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Lamb Weston by 7.8% during the 4th quarter. Bank of America Corp DE now owns 2,751,402 shares of the specialty retailer’s stock valued at $245,865,000 after buying an additional 199,088 shares in the last quarter. Finally, Amundi raised its holdings in shares of Lamb Weston by 73.3% during the 4th quarter. Amundi now owns 2,368,387 shares of the specialty retailer’s stock valued at $230,302,000 after buying an additional 1,002,040 shares in the last quarter. 86.26% of the stock is owned by hedge funds and other institutional investors.

Lamb Weston Price Performance

Shares of LW stock opened at $94.75 on Friday. The firm has a market cap of $13.81 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.48 and a beta of 0.52. Lamb Weston Holdings, Inc. has a fifty-two week low of $74.91 and a fifty-two week high of $117.38. The business’s 50 day moving average price is $108.40 and its 200-day moving average price is $106.63. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.88 and a current ratio of 1.56.

Lamb Weston (NYSE:LW – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The specialty retailer reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.17. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Lamb Weston had a return on equity of 84.65% and a net margin of 18.86%. The business’s quarterly revenue was up 46.9% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. On average, equities research analysts anticipate that Lamb Weston Holdings, Inc. will post 5.21 earnings per share for the current year.

Lamb Weston Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.12 annualized dividend and a dividend yield of 1.18%. Lamb Weston’s dividend payout ratio is presently 16.18%.

Insider Activity at Lamb Weston

In related news, insider Eryk J. Spytek sold 6,319 shares of Lamb Weston 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 sale, the insider now directly owns 1,052 shares in the company, valued at $108,597.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Stifel Nicolaus raised Lamb Weston from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Friday, August 4th. StockNews.com assumed coverage on Lamb Weston in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Barclays lifted their price target on Lamb Weston from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 20th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.40.

View Our Latest Analysis on LW

Lamb Weston Company Profile

(Free Report)

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.