Sterling Capital Management LLC lifted its position in Lamb Weston Holdings Inc. (NYSE:LW) by 25.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,000 shares of the specialty retailer’s stock after buying an additional 5,344 shares during the period. Sterling Capital Management LLC’s holdings in Lamb Weston were worth $1,219,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Schroder Investment Management Group acquired a new position in shares of Lamb Weston in the 2nd quarter worth $106,000. Advisory Services Network LLC grew its holdings in shares of Lamb Weston by 81.5% during the second quarter. Advisory Services Network LLC now owns 3,094 shares of the specialty retailer’s stock valued at $136,000 after buying an additional 1,389 shares in the last quarter. First Mercantile Trust Co. purchased a new position in Lamb Weston in the second quarter valued at about $137,000. Massey Quick Simon & CO. LLC purchased a new position in Lamb Weston in the third quarter valued at about $146,000. Finally, IndexIQ Advisors LLC purchased a new position in Lamb Weston in the second quarter valued at about $149,000. 79.38% of the stock is currently owned by institutional investors.
LW has been the topic of a number of recent research reports. Jefferies Group restated a “buy” rating and issued a $53.00 target price on shares of Lamb Weston in a research note on Monday, September 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $50.00 price target (up previously from $46.00) on shares of Lamb Weston in a research report on Thursday, October 5th. Zacks Investment Research raised Lamb Weston from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday, October 6th. Bank of America boosted their price objective on Lamb Weston from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Finally, Stifel Nicolaus upped their price target on Lamb Weston from $54.00 to $58.00 and gave the company a “hold” rating in a report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $53.13.
Lamb Weston Holdings Inc. (NYSE:LW) traded up $0.13 during midday trading on Thursday, reaching $58.00. The company had a trading volume of 1,429,729 shares, compared to its average volume of 1,582,379. The company has a market cap of $8,480.00 and a price-to-earnings ratio of 26.85. Lamb Weston Holdings Inc. has a 1-year low of $35.81 and a 1-year high of $58.70. The company has a debt-to-equity ratio of -4.43, a quick ratio of 0.53 and a current ratio of 1.55.
Lamb Weston (NYSE:LW) last posted its quarterly earnings data on Thursday, January 4th. The specialty retailer reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $824.60 million for the quarter, compared to the consensus estimate of $815.29 million. Lamb Weston had a negative return on equity of 53.18% and a net margin of 9.85%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. research analysts anticipate that Lamb Weston Holdings Inc. will post 2.4 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 2nd will be paid a $0.1913 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from Lamb Weston’s previous quarterly dividend of $0.19. Lamb Weston’s dividend payout ratio is 34.72%.
In related news, Director Peter J. Bensen purchased 5,000 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were bought at an average price of $58.18 per share, with a total value of $290,900.00. Following the purchase, the director now directly owns 1,935 shares in the company, valued at approximately $112,578.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.
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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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