State Street Corp increased its position in Lamb Weston Holdings Inc. (NYSE:LW) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,922,298 shares of the specialty retailer’s stock after buying an additional 103,358 shares during the quarter. State Street Corp owned 2.68% of Lamb Weston Holdings worth $172,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in LW. Schroder Investment Management Group purchased a new position in shares of Lamb Weston Holdings during the second quarter valued at approximately $106,000. First Mercantile Trust Co. purchased a new position in shares of Lamb Weston Holdings during the second quarter valued at approximately $137,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Lamb Weston Holdings by 165.9% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,366 shares of the specialty retailer’s stock valued at $142,000 after buying an additional 2,100 shares during the period. IndexIQ Advisors LLC purchased a new position in shares of Lamb Weston Holdings during the second quarter valued at approximately $149,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Lamb Weston Holdings during the second quarter valued at approximately $175,000. Institutional investors own 79.71% of the company’s stock.
Lamb Weston Holdings Inc. (NYSE LW) traded up 0.43% on Friday, reaching $50.82. The company’s stock had a trading volume of 374,813 shares. Lamb Weston Holdings Inc. has a 1-year low of $29.62 and a 1-year high of $51.20. The firm’s 50 day moving average price is $47.77 and its 200-day moving average price is $45.13. The company has a market capitalization of $7.43 billion and a price-to-earnings ratio of 22.69.
Lamb Weston Holdings (NYSE:LW) last announced its quarterly earnings data on Wednesday, October 4th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. Lamb Weston Holdings had a negative return on equity of 50.81% and a net margin of 10.31%. The business had revenue of $817.50 million for the quarter, compared to analysts’ expectations of $795.61 million. Lamb Weston Holdings’s revenue was up 5.3% on a year-over-year basis. Equities analysts forecast that Lamb Weston Holdings Inc. will post $2.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, November 2nd. Lamb Weston Holdings’s dividend payout ratio is presently 33.63%.
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A number of equities research analysts have recently commented on the company. Zacks Investment Research raised Lamb Weston Holdings from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Friday, October 6th. Morgan Stanley reissued an “equal weight” rating and issued a $50.00 target price (up from $46.00) on shares of Lamb Weston Holdings in a research note on Thursday, October 5th. Jefferies Group LLC reissued a “buy” rating and issued a $58.00 target price (up from $53.00) on shares of Lamb Weston Holdings in a research note on Thursday, October 5th. Bank of America Corporation upped their price target on Lamb Weston Holdings from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 10th. Finally, Stifel Nicolaus downgraded Lamb Weston Holdings from a “buy” rating to a “hold” rating and upped their price target for the company from $42.00 to $44.00 in a report on Tuesday, July 4th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $47.89.
Lamb Weston Holdings Company Profile
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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