Hsbc Holdings PLC reduced its position in Lamb Weston Holdings Inc (NYSE:LW) by 24.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 91,024 shares of the specialty retailer’s stock after selling 29,744 shares during the period. Hsbc Holdings PLC owned about 0.06% of Lamb Weston worth $6,061,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Stevens Capital Management LP grew its stake in Lamb Weston by 194.8% in the 3rd quarter. Stevens Capital Management LP now owns 48,890 shares of the specialty retailer’s stock worth $3,256,000 after acquiring an additional 32,308 shares during the period. Franklin Resources Inc. grew its stake in Lamb Weston by 12.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,890,309 shares of the specialty retailer’s stock worth $125,872,000 after acquiring an additional 210,604 shares during the period. AMP Capital Investors Ltd grew its stake in Lamb Weston by 10.7% in the 3rd quarter. AMP Capital Investors Ltd now owns 22,244 shares of the specialty retailer’s stock worth $1,459,000 after acquiring an additional 2,144 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Lamb Weston during the 3rd quarter valued at $471,000. Finally, Baird Financial Group Inc. grew its stake in shares of Lamb Weston by 1.0% during the 3rd quarter. Baird Financial Group Inc. now owns 729,508 shares of the specialty retailer’s stock valued at $48,104,000 after buying an additional 7,228 shares during the period. 79.68% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE LW opened at $73.45 on Friday. Lamb Weston Holdings Inc has a 52-week low of $52.92 and a 52-week high of $83.86. The firm has a market cap of $10.86 billion, a PE ratio of 26.19, a P/E/G ratio of 2.10 and a beta of -0.56.
Lamb Weston (NYSE:LW) last announced its quarterly earnings data on Tuesday, October 2nd. The specialty retailer reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.05. Lamb Weston had a net margin of 12.52% and a negative return on equity of 110.81%. The company had revenue of $914.90 million during the quarter, compared to analysts’ expectations of $879.68 million. During the same period in the previous year, the company earned $0.57 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Lamb Weston Holdings Inc will post 2.99 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 2nd were paid a dividend of $0.191 per share. The ex-dividend date of this dividend was Thursday, November 1st. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. Lamb Weston’s dividend payout ratio is presently 28.57%.
Several analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Lamb Weston from $68.00 to $74.00 and gave the company a “hold” rating in a research note on Wednesday, October 3rd. ValuEngine cut shares of Lamb Weston from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. Bank of America cut shares of Lamb Weston from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $75.00 to $85.00 in a research note on Thursday, November 15th. Zacks Investment Research raised shares of Lamb Weston from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Wednesday, October 24th. Finally, CL King cut shares of Lamb Weston from a “buy” rating to a “neutral” rating in a research note on Thursday, October 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $74.50.
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Lamb Weston Profile
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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