Fifth Third Bancorp Has $2.24 Million Stake in Lamb Weston $LW

Fifth Third Bancorp boosted its stake in shares of Lamb Weston (NYSE:LW) by 627.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,085 shares of the specialty retailer’s stock after buying an additional 45,790 shares during the quarter. Fifth Third Bancorp’s holdings in Lamb Weston were worth $2,243,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LW. Bank of Nova Scotia increased its position in Lamb Weston by 2.0% during the 3rd quarter. Bank of Nova Scotia now owns 9,685 shares of the specialty retailer’s stock valued at $563,000 after purchasing an additional 189 shares during the period. MCF Advisors LLC increased its position in shares of Lamb Weston by 44.2% during the fourth quarter. MCF Advisors LLC now owns 649 shares of the specialty retailer’s stock worth $27,000 after buying an additional 199 shares during the period. Clearstead Advisors LLC raised its stake in Lamb Weston by 8.0% during the fourth quarter. Clearstead Advisors LLC now owns 3,101 shares of the specialty retailer’s stock worth $130,000 after buying an additional 229 shares during the last quarter. Fiduciary Trust Co boosted its position in Lamb Weston by 7.5% during the third quarter. Fiduciary Trust Co now owns 4,324 shares of the specialty retailer’s stock valued at $251,000 after acquiring an additional 300 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in Lamb Weston by 47.1% during the 3rd quarter. Larson Financial Group LLC now owns 953 shares of the specialty retailer’s stock worth $55,000 after acquiring an additional 305 shares during the period. Institutional investors own 89.56% of the company’s stock.

Lamb Weston Stock Up 1.3%

Shares of NYSE LW opened at $47.19 on Wednesday. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.46 and a quick ratio of 0.69. The company has a 50-day moving average price of $44.35 and a 200-day moving average price of $44.12. The stock has a market capitalization of $6.52 billion, a P/E ratio of 22.05, a P/E/G ratio of 6.19 and a beta of 0.47. Lamb Weston has a 1 year low of $37.62 and a 1 year high of $67.07.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LW. BNP Paribas Exane dropped their price objective on Lamb Weston from $48.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Bank of America reduced their price objective on shares of Lamb Weston from $49.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Barclays increased their target price on shares of Lamb Weston from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lamb Weston from $46.00 to $40.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Finally, Stephens started coverage on shares of Lamb Weston in a research report on Wednesday, May 27th. They set an “equal weight” rating and a $46.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Lamb Weston has a consensus rating of “Hold” and an average target price of $49.27.

About Lamb Weston

Lamb Weston, traded on the NYSE under the symbol LW, is a leading global processor and supplier of frozen potato products. The company’s portfolio includes a variety of potato-based items such as French fries, potato wedges, hash browns and specialty cuts tailored to the foodservice and retail grocery channels. Lamb Weston serves quick-service restaurants, full-service operators, grocery chains and food distributors, offering customized product formats, packaging solutions and seasoning options to meet evolving customer demands.

Founded in 1950 and headquartered in Eagle, Idaho, Lamb Weston has grown from a regional processor into one of the world’s largest producers of frozen potato products.