OppenheimerFunds Inc. trimmed its position in Lamb Weston Holdings Inc (NYSE:LW) by 11.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 494,575 shares of the specialty retailer’s stock after selling 64,053 shares during the period. OppenheimerFunds Inc. owned approximately 0.34% of Lamb Weston worth $37,063,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc raised its position in Lamb Weston by 2.1% during the third quarter. Vanguard Group Inc now owns 13,940,423 shares of the specialty retailer’s stock valued at $928,433,000 after acquiring an additional 286,945 shares in the last quarter. Strs Ohio purchased a new position in Lamb Weston during the fourth quarter valued at approximately $366,000. KBC Group NV raised its position in Lamb Weston by 73.0% during the fourth quarter. KBC Group NV now owns 14,333 shares of the specialty retailer’s stock valued at $1,055,000 after acquiring an additional 6,050 shares in the last quarter. Advisors Asset Management Inc. raised its position in Lamb Weston by 62.4% during the fourth quarter. Advisors Asset Management Inc. now owns 393 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 151 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Lamb Weston by 1,178.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the specialty retailer’s stock valued at $47,000 after acquiring an additional 589 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.
Shares of LW traded down $0.45 during trading hours on Wednesday, hitting $61.47. 13,323 shares of the stock were exchanged, compared to its average volume of 1,742,376. Lamb Weston Holdings Inc has a 12-month low of $59.16 and a 12-month high of $83.86. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.51 and a beta of 0.14.
Lamb Weston (NYSE:LW) last issued its quarterly earnings results on Tuesday, April 2nd. The specialty retailer reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.13. Lamb Weston had a negative return on equity of 230.44% and a net margin of 12.47%. The firm had revenue of $926.80 million during the quarter, compared to analysts’ expectations of $898.46 million. During the same period in the previous year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts predict that Lamb Weston Holdings Inc will post 3.2 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Thursday, May 2nd. Lamb Weston’s payout ratio is 30.08%.
A number of research firms have recently commented on LW. Zacks Investment Research cut Lamb Weston from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. Consumer Edge began coverage on Lamb Weston in a research report on Friday, March 22nd. They issued an “outperform” rating for the company. Stifel Nicolaus boosted their price objective on Lamb Weston from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Daiwa Capital Markets began coverage on Lamb Weston in a research report on Wednesday, February 27th. They issued an “outperform” rating for the company. Finally, Bank of America upgraded Lamb Weston from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, May 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $79.40.
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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