Lamb Weston Holdings, Inc. (NYSE:LW) Shares Bought by Rhumbline Advisers

Posted by Defense World Staff on Aug 28th, 2023

Rhumbline Advisers raised its stake in Lamb Weston Holdings, Inc. (NYSE:LW – Free Report) by 6.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 322,817 shares of the specialty retailer’s stock after acquiring an additional 20,785 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of Lamb Weston worth $33,741,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LW. Newbridge Financial Services Group Inc. acquired a new position in Lamb Weston in the first quarter valued at $27,000. Eagle Bay Advisors LLC acquired a new position in Lamb Weston in the second quarter valued at $29,000. U.S. Capital Wealth Advisors LLC acquired a new position in Lamb Weston in the fourth quarter valued at $36,000. Parkside Financial Bank & Trust increased its stake in Lamb Weston by 330.1% in the first quarter. Parkside Financial Bank & Trust now owns 628 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 482 shares during the last quarter. Finally, Achmea Investment Management B.V. acquired a new position in Lamb Weston in the fourth quarter valued at $38,000. 85.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lamb Weston

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LW shares. Barclays upped their target price on Lamb Weston from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, July 20th. StockNews.com initiated coverage on Lamb Weston in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Stifel Nicolaus raised Lamb Weston from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Friday, August 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.40.

View Our Latest Report on LW

Lamb Weston Price Performance

Shares of NYSE LW opened at $96.35 on Monday. Lamb Weston Holdings, Inc. has a 1-year low of $74.91 and a 1-year high of $117.38. The business has a 50-day moving average of $106.53 and a 200-day moving average of $106.59. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.56 and a quick ratio of 0.88. The company has a market capitalization of $14.05 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.52 and a beta of 0.52.

Lamb Weston (NYSE:LW – Get Free Report) last issued 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. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Lamb Weston had a return on equity of 84.65% and a net margin of 18.86%. The company’s revenue was up 46.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, equities analysts anticipate that Lamb Weston Holdings, Inc. will post 5.21 EPS for the current fiscal year.

Lamb Weston Dividend Announcement

The firm also recently declared 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. This represents a $1.12 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Thursday, August 3rd. Lamb Weston’s dividend payout ratio is currently 16.18%.

About Lamb Weston

(Free Report)

Lamb Weston Holdings, Inc produces, distributes, and markets frozen potato products worldwide. The company operates through four segments: Global, Foodservice, Retail, and Other. It offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels.