Geode Capital Management LLC increased its stake in Lamb Weston Holdings Inc (NYSE:LW) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,210,929 shares of the specialty retailer’s stock after buying an additional 56,104 shares during the period. Geode Capital Management LLC owned 0.83% of Lamb Weston worth $68,356,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Ferris Capital LLC bought a new position in Lamb Weston in the fourth quarter worth about $309,000. Ameriprise Financial Inc. raised its stake in Lamb Weston by 5.3% in the third quarter. Ameriprise Financial Inc. now owns 1,979,304 shares of the specialty retailer’s stock worth $92,810,000 after buying an additional 100,388 shares in the last quarter. Bodenholm Capital AB raised its stake in Lamb Weston by 6.8% in the third quarter. Bodenholm Capital AB now owns 936,000 shares of the specialty retailer’s stock worth $43,602,000 after buying an additional 60,000 shares in the last quarter. Employees Retirement System of Texas raised its stake in Lamb Weston by 49.9% in the fourth quarter. Employees Retirement System of Texas now owns 483,666 shares of the specialty retailer’s stock worth $27,303,000 after buying an additional 161,000 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in Lamb Weston by 2,176.4% in the third quarter. Artisan Partners Limited Partnership now owns 458,095 shares of the specialty retailer’s stock worth $21,480,000 after buying an additional 437,971 shares in the last quarter. 80.64% of the stock is owned by institutional investors.
In other news, Director Peter J. Bensen purchased 5,000 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were purchased at an average price of $58.18 per share, for a total transaction of $290,900.00. Following the completion of the acquisition, the director now directly owns 1,935 shares in the company, valued at approximately $112,578.30. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.
Lamb Weston (NYSE:LW) last announced its earnings results on Thursday, January 4th. The specialty retailer reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.01. Lamb Weston had a net margin of 9.85% and a negative return on equity of 53.18%. The business had revenue of $824.60 million during the quarter, compared to the consensus estimate of $815.29 million. During the same quarter last year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. equities research analysts expect that Lamb Weston Holdings Inc will post 2.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 2nd were paid a dividend of $0.1913 per share. This is an increase from Lamb Weston’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.35%. Lamb Weston’s dividend payout ratio (DPR) is currently 35.19%.
A number of equities analysts have weighed in on LW shares. Stifel Nicolaus raised their target price on shares of Lamb Weston from $54.00 to $58.00 and gave the company a “hold” rating in a research note on Tuesday, January 2nd. Zacks Investment Research downgraded shares of Lamb Weston from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, Jefferies Group raised their target price on shares of Lamb Weston to $64.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $58.14.
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Lamb Weston Company Profile
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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