Synovus Financial Corp Purchases 749 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Synovus Financial Corp raised its position in shares of Lamb Weston Holdings, Inc. (NYSE:LW) by 22.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,075 shares of the specialty retailer’s stock after acquiring an additional 749 shares during the period. Synovus Financial Corp’s holdings in Lamb Weston were worth $264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. City State Bank grew its holdings in Lamb Weston by 56.2% in the 3rd quarter. City State Bank now owns 417 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. Crewe Advisors LLC grew its stake in shares of Lamb Weston by 357.5% in the second quarter. Crewe Advisors LLC now owns 334 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 261 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Lamb Weston in the third quarter worth $29,000. Riverview Trust Co bought a new position in Lamb Weston during the third quarter worth $35,000. Finally, Family Firm Inc. acquired a new position in Lamb Weston during the 2nd quarter valued at $36,000. 89.56% of the stock is owned by institutional investors and hedge funds.

Lamb Weston Stock Down 5.0 %

LW opened at $78.22 on Thursday. Lamb Weston Holdings, Inc. has a twelve month low of $52.99 and a twelve month high of $111.88. The firm has a market cap of $11.15 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.34 and a beta of 0.70. The firm’s 50-day simple moving average is $76.96 and its 200-day simple moving average is $72.79. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.54 and a current ratio of 1.19.

Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Tuesday, October 1st. The specialty retailer reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Lamb Weston had a net margin of 9.57% and a return on equity of 34.33%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. Equities research analysts anticipate that Lamb Weston Holdings, Inc. will post 4.26 EPS for the current fiscal year.

Lamb Weston Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 1st were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.44 annualized dividend and a yield of 1.84%. Lamb Weston’s payout ratio is 33.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LW. Bank of America upped their price objective on shares of Lamb Weston from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Barclays upped their price target on Lamb Weston from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Wells Fargo & Company lifted their price objective on Lamb Weston from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on Lamb Weston from $68.00 to $78.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Citigroup lifted their price target on shares of Lamb Weston from $76.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $84.25.

Lamb Weston Profile

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.