Picton Mahoney Asset Management lowered its stake in Lamb Weston Holdings Inc (NYSE:LW) by 33.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,900 shares of the specialty retailer’s stock after selling 11,200 shares during the period. Picton Mahoney Asset Management’s holdings in Lamb Weston were worth $1,459,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Destination Wealth Management boosted its position in shares of Lamb Weston by 191.8% during the second quarter. Destination Wealth Management now owns 1,459 shares of the specialty retailer’s stock valued at $100,000 after buying an additional 959 shares during the period. Acadian Asset Management LLC boosted its position in shares of Lamb Weston by 1,114.8% during the second quarter. Acadian Asset Management LLC now owns 1,810 shares of the specialty retailer’s stock valued at $124,000 after buying an additional 1,661 shares during the period. Fort L.P. purchased a new position in shares of Lamb Weston during the second quarter valued at approximately $124,000. Parallel Advisors LLC boosted its position in shares of Lamb Weston by 198.5% during the second quarter. Parallel Advisors LLC now owns 1,943 shares of the specialty retailer’s stock valued at $133,000 after buying an additional 1,292 shares during the period. Finally, Financial Advocates Investment Management purchased a new position in shares of Lamb Weston during the second quarter valued at approximately $200,000. Institutional investors own 79.76% of the company’s stock.
LW has been the subject of a number of research reports. Zacks Investment Research lowered Lamb Weston from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price target on shares of Lamb Weston in a report on Tuesday, October 2nd. ValuEngine lowered Lamb Weston from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus boosted their price target on Lamb Weston from $68.00 to $74.00 and gave the company a “hold” rating in a report on Wednesday, October 3rd. Finally, CL King lowered Lamb Weston from a “buy” rating to a “neutral” rating in a report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $72.00.
Shares of NYSE:LW opened at $82.02 on Friday. The company has a market capitalization of $11.84 billion, a P/E ratio of 28.56, a price-to-earnings-growth ratio of 2.47 and a beta of -0.53. Lamb Weston Holdings Inc has a 52 week low of $50.60 and a 52 week high of $82.04.
Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Tuesday, October 2nd. The specialty retailer reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. The company had revenue of $914.90 million during the quarter, compared to the consensus estimate of $879.68 million. Lamb Weston had a net margin of 12.52% and a negative return on equity of 110.81%. Lamb Weston’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. On average, analysts forecast that Lamb Weston Holdings Inc will post 2.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 2nd will be paid a $0.191 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, November 1st. Lamb Weston’s dividend payout ratio (DPR) is 28.57%.
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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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