Cadence Capital Management LLC cut its holdings in shares of Lamb Weston Holdings Inc. (NYSE:LW) by 59.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,360 shares of the specialty retailer’s stock after selling 46,137 shares during the quarter. Cadence Capital Management LLC’s holdings in Lamb Weston were worth $1,470,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LW. Dimensional Fund Advisors LP grew its holdings in shares of Lamb Weston by 23.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 342,995 shares of the specialty retailer’s stock worth $14,426,000 after purchasing an additional 64,340 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Lamb Weston during the 1st quarter worth $3,441,000. State of Alaska Department of Revenue purchased a new position in shares of Lamb Weston during the 2nd quarter worth $175,000. Aperio Group LLC grew its holdings in shares of Lamb Weston by 20.5% during the 2nd quarter. Aperio Group LLC now owns 65,959 shares of the specialty retailer’s stock worth $2,905,000 after purchasing an additional 11,217 shares during the period. Finally, ING Groep NV purchased a new position in shares of Lamb Weston during the 2nd quarter worth $452,000. Institutional investors and hedge funds own 79.41% of the company’s stock.
Shares of Lamb Weston Holdings Inc. (LW) opened at $56.20 on Monday. The company has a debt-to-equity ratio of -4.10, a current ratio of 1.62 and a quick ratio of 0.67. The stock has a market capitalization of $8,216.27 and a PE ratio of 24.43. Lamb Weston Holdings Inc. has a 12-month low of $34.15 and a 12-month high of $56.42.
Lamb Weston (NYSE:LW) last posted its quarterly earnings results on Wednesday, October 4th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The company had revenue of $817.50 million for the quarter, compared to analyst estimates of $795.61 million. Lamb Weston had a negative return on equity of 50.81% and a net margin of 10.31%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. equities research analysts expect that Lamb Weston Holdings Inc. will post 2.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, November 2nd. Lamb Weston’s dividend payout ratio is currently 33.63%.
A number of equities analysts recently commented on LW shares. Bank of America raised their target price on Lamb Weston from $52.00 to $57.00 and gave the company a “buy” rating in a report on Monday, November 6th. Zacks Investment Research upgraded Lamb Weston from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Friday, October 6th. Morgan Stanley restated an “equal weight” rating and set a $50.00 target price (up from $46.00) on shares of Lamb Weston in a report on Thursday, October 5th. Finally, Jefferies Group restated a “buy” rating and set a $58.00 target price (up from $53.00) on shares of Lamb Weston in a report on Thursday, October 5th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $50.63.
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Lamb Weston 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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