CIBC Asset Management Inc Purchases 13,028 Shares of Lamb Weston $LW

CIBC Asset Management Inc boosted its position in shares of Lamb Weston (NYSE:LW) by 72.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,106 shares of the specialty retailer’s stock after acquiring an additional 13,028 shares during the period. CIBC Asset Management Inc’s holdings in Lamb Weston were worth $1,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in shares of Lamb Weston by 39.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,356,732 shares of the specialty retailer’s stock worth $56,834,000 after purchasing an additional 387,144 shares during the period. Goldman Sachs Group Inc. boosted its stake in Lamb Weston by 21.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 642,428 shares of the specialty retailer’s stock valued at $26,911,000 after purchasing an additional 114,266 shares during the period. Easterly Investment Partners LLC bought a new stake in Lamb Weston during the 4th quarter valued at approximately $3,071,000. Nomura Asset Management Co. Ltd. grew its holdings in Lamb Weston by 14.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,580 shares of the specialty retailer’s stock valued at $192,000 after buying an additional 571 shares during the last quarter. Finally, Grandfield & Dodd LLC grew its holdings in Lamb Weston by 26.4% in the 4th quarter. Grandfield & Dodd LLC now owns 213,409 shares of the specialty retailer’s stock valued at $8,940,000 after buying an additional 44,564 shares during the last quarter. 89.56% of the stock is owned by institutional investors and hedge funds.

Lamb Weston Price Performance

Shares of LW stock opened at $42.56 on Tuesday. Lamb Weston has a 12 month low of $37.62 and a 12 month high of $67.07. The company has a market capitalization of $5.88 billion, a P/E ratio of 19.89, a P/E/G ratio of 5.61 and a beta of 0.47. The stock has a 50 day moving average of $42.52 and a two-hundred day moving average of $46.03. The company has a current ratio of 1.46, a quick ratio of 0.69 and a debt-to-equity ratio of 1.99.

Lamb Weston (NYSE:LW) last issued its earnings results on Wednesday, April 1st. The specialty retailer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.11. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.49 billion. Lamb Weston had a return on equity of 23.77% and a net margin of 4.61%.Lamb Weston’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. As a group, equities analysts expect that Lamb Weston will post 2.85 EPS for the current year.

Lamb Weston Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a $0.38 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.6%. Lamb Weston’s dividend payout ratio is currently 71.03%.

Analyst Ratings Changes

LW has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on Lamb Weston from $54.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft dropped 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. Stifel Nicolaus cut their target price on shares of Lamb Weston from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Thursday, April 2nd. JPMorgan Chase & Co. reduced their price target on shares of Lamb Weston from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, March 24th. Finally, Zacks Research upgraded shares of Lamb Weston from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Lamb Weston presently has an average rating of “Hold” and a consensus price target of $47.82.

Insider Transactions at Lamb Weston

In other Lamb Weston news, Director Peter J. Bensen purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was purchased at an average price of $39.45 per share, with a total value of $197,250.00. Following the completion of the transaction, the director directly owned 17,204 shares of the company’s stock, valued at approximately $678,697.80. This trade represents a 40.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jana Partners Management, Lp purchased 136,000 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were acquired at an average price of $40.89 per share, with a total value of $5,561,040.00. Following the purchase, the director owned 5,148,980 shares of the company’s stock, valued at approximately $210,541,792.20. This trade represents a 2.71% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 391,000 shares of company stock valued at $16,270,790 over the last ninety days. 0.29% of the stock is owned by insiders.

Lamb Weston Profile

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.