Bank of New York Mellon Corp Sells 155,235 Shares of Lamb Weston $LW

Bank of New York Mellon Corp lessened its holdings in Lamb Weston (NYSE:LW) by 11.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,201,497 shares of the specialty retailer’s stock after selling 155,235 shares during the quarter. Bank of New York Mellon Corp’s holdings in Lamb Weston were worth $50,775,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of LW. Vanguard Group Inc. boosted its stake in Lamb Weston by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,679,203 shares of the specialty retailer’s stock valued at $698,692,000 after buying an additional 43,766 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Lamb Weston by 27.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,824,690 shares of the specialty retailer’s stock worth $411,558,000 after acquiring an additional 2,111,874 shares in the last quarter. State Street Corp raised its stake in Lamb Weston by 1.1% during the second quarter. State Street Corp now owns 5,801,585 shares of the specialty retailer’s stock worth $300,812,000 after acquiring an additional 63,865 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lamb Weston by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,528,402 shares of the specialty retailer’s stock worth $147,536,000 after acquiring an additional 21,256 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Lamb Weston by 2.5% in the third quarter. Invesco Ltd. now owns 3,286,305 shares of the specialty retailer’s stock worth $190,869,000 after acquiring an additional 79,257 shares during the last quarter. Institutional investors own 89.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LW. Stephens assumed coverage on shares of Lamb Weston in a report on Wednesday, May 27th. They set an “equal weight” rating and a $46.00 price target on the stock. Bank of America dropped 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 note on Thursday, April 2nd. Wells Fargo & Company increased their price objective on shares of Lamb Weston from $46.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Lamb Weston from $46.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Finally, BNP Paribas Exane decreased their target price on shares of Lamb Weston from $48.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $49.27.

Lamb Weston Stock Performance

Shares of Lamb Weston stock opened at $49.17 on Friday. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 6.37 and a beta of 0.47. Lamb Weston has a twelve month low of $37.62 and a twelve month high of $67.07. The company’s fifty day moving average is $44.62 and its 200 day moving average is $44.22. The company has a quick ratio of 0.69, a current ratio of 1.46 and a debt-to-equity ratio of 1.99.

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.