Comerica Bank decreased its holdings in Lamb Weston Holdings Inc. (NYSE:LW) by 16.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 545,401 shares of the specialty retailer’s stock after selling 103,648 shares during the quarter. Comerica Bank owned about 0.37% of Lamb Weston Holdings worth $27,478,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in LW. Schroder Investment Management Group bought a new stake in Lamb Weston Holdings in the 2nd quarter worth about $106,000. Advisory Services Network LLC grew its stake in shares of Lamb Weston Holdings by 81.5% during the 2nd quarter. Advisory Services Network LLC now owns 3,094 shares of the specialty retailer’s stock valued at $136,000 after purchasing an additional 1,389 shares during the period. First Mercantile Trust Co. bought a new stake in shares of Lamb Weston Holdings during the 2nd quarter valued at about $137,000. Massey Quick Simon & CO. LLC bought a new stake in shares of Lamb Weston Holdings during the 3rd quarter valued at about $146,000. Finally, IndexIQ Advisors LLC bought a new stake in shares of Lamb Weston Holdings during the 2nd quarter valued at about $149,000. 79.78% of the stock is owned by institutional investors.
Lamb Weston Holdings Inc. (LW) traded up $0.82 during midday trading on Tuesday, reaching $52.78. The company had a trading volume of 777,400 shares, compared to its average volume of 978,384. The company has a current ratio of 1.62, a quick ratio of 0.67 and a debt-to-equity ratio of -4.10. Lamb Weston Holdings Inc. has a one year low of $28.75 and a one year high of $52.85. The stock has a market cap of $7,596.40 and a PE ratio of 22.59.
Lamb Weston Holdings (NYSE:LW) last posted its quarterly earnings results on Wednesday, October 4th. The specialty retailer reported $0.57 EPS for the quarter, topping the Zacks’ 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 company had revenue of $817.50 million for the quarter, compared to analysts’ expectations of $795.61 million. Lamb Weston Holdings’s quarterly revenue was up 5.3% on a year-over-year basis. sell-side analysts predict that Lamb Weston Holdings Inc. will post 2.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be issued a $0.1875 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.75 dividend on an annualized basis and a yield of 1.42%. Lamb Weston Holdings’s dividend payout ratio is presently 33.63%.
A number of research analysts have recently weighed in on LW shares. Zacks Investment Research cut Lamb Weston Holdings from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Bank of America Corporation lifted their price objective on Lamb Weston Holdings from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 price objective (up from $53.00) on shares of Lamb Weston Holdings in a research report on Thursday, October 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $50.00 price objective (up from $46.00) on shares of Lamb Weston Holdings in a research report on Thursday, October 5th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $50.63.
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Lamb Weston Holdings 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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