Assenagon Asset Management S.A. Buys Shares of 140,836 Lamb Weston $LW

Assenagon Asset Management S.A. acquired a new stake in shares of Lamb Weston (NYSE:LW) in the fourth quarter, HoldingsChannel reports. The fund acquired 140,836 shares of the specialty retailer’s stock, valued at approximately $5,900,000.

A number of other large investors have also recently bought and sold shares of LW. AlphaQuest LLC increased its position in Lamb Weston by 115.5% in the third quarter. AlphaQuest LLC now owns 446 shares of the specialty retailer’s stock worth $26,000 after buying an additional 239 shares during the period. Quent Capital LLC acquired a new stake in shares of Lamb Weston in the 3rd quarter worth about $29,000. Motco bought a new stake in Lamb Weston in the 3rd quarter valued at about $30,000. Blue Trust Inc. lifted its position in Lamb Weston by 333.3% in the 3rd quarter. Blue Trust Inc. now owns 637 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 490 shares during the last quarter. Finally, Stance Capital LLC acquired a new position in Lamb Weston during the 3rd quarter valued at about $51,000. Institutional investors own 89.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LW shares. BNP Paribas Exane set a $48.00 price target on Lamb Weston in a report on Monday, December 22nd. Bank of America decreased their price objective on Lamb Weston from $66.00 to $53.00 and set a “neutral” rating for the company in a report on Monday, December 22nd. Wells Fargo & Company lowered their target price on Lamb Weston from $68.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 23rd. Zacks Research raised Lamb Weston from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Jefferies Financial Group boosted their price target on Lamb Weston from $67.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Lamb Weston presently has an average rating of “Hold” and an average target price of $52.40.

Lamb Weston Price Performance

Shares of NYSE LW opened at $41.58 on Friday. Lamb Weston has a twelve month low of $39.60 and a twelve month high of $67.07. The company has a current ratio of 1.43, a quick ratio of 0.64 and a debt-to-equity ratio of 2.08. The firm has a 50-day moving average of $45.41 and a two-hundred day moving average of $52.31. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 6.05 and a beta of 0.43.

Insider Activity at Lamb Weston

In related news, insider Jan Eli B. Craps acquired 50,000 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was bought at an average price of $48.65 per share, for a total transaction of $2,432,500.00. Following the transaction, the insider owned 300,000 shares of the company’s stock, valued at approximately $14,595,000. The trade was a 20.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

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.