Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of Lamb Weston Holdings Inc (NYSE:LW) by 25.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 755,095 shares of the specialty retailer’s stock after selling 257,881 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.52% of Lamb Weston worth $48,273,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of LW. ETRADE Capital Management LLC grew its position in Lamb Weston by 1.0% during the 1st quarter. ETRADE Capital Management LLC now owns 16,771 shares of the specialty retailer’s stock worth $958,000 after acquiring an additional 166 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Lamb Weston by 4.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,064 shares of the specialty retailer’s stock worth $232,000 after acquiring an additional 179 shares during the last quarter. AIA Investment Management Private Ltd grew its position in Lamb Weston by 16.7% during the 1st quarter. AIA Investment Management Private Ltd now owns 1,305 shares of the specialty retailer’s stock worth $75,000 after acquiring an additional 187 shares during the last quarter. Synovus Financial Corp grew its position in Lamb Weston by 7.3% during the 1st quarter. Synovus Financial Corp now owns 3,337 shares of the specialty retailer’s stock worth $190,000 after acquiring an additional 227 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Lamb Weston by 17.5% during the 1st quarter. Parallel Advisors LLC now owns 1,615 shares of the specialty retailer’s stock worth $92,000 after acquiring an additional 240 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on LW. Zacks Investment Research lowered Lamb Weston from a “hold” rating to a “sell” rating and set a $70.00 price target on the stock. in a research report on Wednesday, July 15th. TheStreet lowered Lamb Weston from a “b-” rating to a “c+” rating in a research report on Thursday. Finally, Barclays reiterated a “buy” rating and issued a $60.00 price objective on shares of Lamb Weston in a report on Tuesday, May 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Lamb Weston currently has a consensus rating of “Hold” and an average price target of $57.40.
NYSE LW opened at $60.08 on Friday. Lamb Weston Holdings Inc has a fifty-two week low of $39.06 and a fifty-two week high of $96.32. The company has a debt-to-equity ratio of 12.47, a quick ratio of 0.84 and a current ratio of 2.25. The stock has a 50 day simple moving average of $64.89 and a two-hundred day simple moving average of $69.64. The stock has a market cap of $8.78 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 7.48 and a beta of 0.82.
Lamb Weston (NYSE:LW) last released its quarterly earnings data on Tuesday, July 28th. The specialty retailer reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.17). Lamb Weston had a return on equity of 183.08% and a net margin of 9.65%. The business had revenue of $846.90 million during the quarter, compared to analysts’ expectations of $829.33 million. During the same quarter last year, the business posted $0.74 EPS. The company’s quarterly revenue was down 15.6% compared to the same quarter last year. Sell-side analysts predict that Lamb Weston Holdings Inc will post 2.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 7th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, August 6th. Lamb Weston’s payout ratio is presently 36.80%.
In other news, Director Robert A. Niblock bought 2,500 shares of the stock in a transaction dated Thursday, July 30th. The stock was bought at an average price of $59.70 per share, for a total transaction of $149,250.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.82% of the company’s stock.
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, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
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