Russell Investments Group Ltd. increased its stake in shares of Lamb Weston Holdings Inc (NYSE:LW) by 6.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385,585 shares of the specialty retailer’s stock after purchasing an additional 22,461 shares during the quarter. Russell Investments Group Ltd. owned 0.26% of Lamb Weston worth $28,187,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Great Lakes Advisors LLC grew its stake in Lamb Weston by 2.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 197,163 shares of the specialty retailer’s stock worth $12,493,000 after purchasing an additional 4,416 shares in the last quarter. AGF Investments LLC grew its stake in Lamb Weston by 48.7% during the 2nd quarter. AGF Investments LLC now owns 4,884 shares of the specialty retailer’s stock worth $309,000 after purchasing an additional 1,600 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Lamb Weston by 9.3% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 116,510 shares of the specialty retailer’s stock worth $7,382,000 after purchasing an additional 9,900 shares in the last quarter. Intrust Bank NA grew its stake in Lamb Weston by 8.6% during the 2nd quarter. Intrust Bank NA now owns 13,321 shares of the specialty retailer’s stock worth $844,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Eaton Vance Management grew its stake in Lamb Weston by 7.0% during the 2nd quarter. Eaton Vance Management now owns 131,754 shares of the specialty retailer’s stock worth $8,348,000 after purchasing an additional 8,595 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.
Lamb Weston stock opened at $79.00 on Friday. Lamb Weston Holdings Inc has a fifty-two week low of $58.83 and a fifty-two week high of $83.86. The company has a debt-to-equity ratio of 23.94, a quick ratio of 0.81 and a current ratio of 1.68. The company has a market capitalization of $11.23 billion, a P/E ratio of 24.53, a PEG ratio of 2.90 and a beta of 0.18. The stock has a 50-day simple moving average of $75.82 and a 200-day simple moving average of $68.57.
Lamb Weston (NYSE:LW) last posted its quarterly earnings data on Wednesday, October 2nd. The specialty retailer reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The firm had revenue of $989.00 million during the quarter, compared to the consensus estimate of $971.45 million. Lamb Weston had a negative return on equity of 1,426.55% and a net margin of 12.44%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 EPS. As a group, analysts forecast that Lamb Weston Holdings Inc will post 3.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.01%. The ex-dividend date is Thursday, October 31st. Lamb Weston’s dividend payout ratio is presently 24.84%.
Several research firms have recently issued reports on LW. Zacks Investment Research raised Lamb Weston from a “strong sell” rating to a “hold” rating and set a $55.00 price objective for the company in a research report on Friday, July 26th. TheStreet raised Lamb Weston from a “c+” rating to a “b” rating in a research report on Monday, October 28th. Stifel Nicolaus set a $81.00 price objective on Lamb Weston and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Barclays set a $83.00 price objective on Lamb Weston and gave the stock a “buy” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $75.71.
In other Lamb Weston news, VP Bernadette M. Madarieta sold 1,320 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $75.59, for a total transaction of $99,778.80. Following the completion of the sale, the vice president now directly owns 14,777 shares of the company’s stock, valued at approximately $1,116,993.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by corporate insiders.
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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