Meyer Handelman Co. reduced its stake in Lamb Weston Holdings Inc (NYSE:LW) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 129,923 shares of the specialty retailer’s stock after selling 1,980 shares during the quarter. Meyer Handelman Co.’s holdings in Lamb Weston were worth $11,177,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rothschild Investment Corp IL acquired a new stake in Lamb Weston in the 4th quarter valued at $202,000. NEXT Financial Group Inc grew its stake in shares of Lamb Weston by 50.7% during the fourth quarter. NEXT Financial Group Inc now owns 4,481 shares of the specialty retailer’s stock valued at $386,000 after acquiring an additional 1,508 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of Lamb Weston by 8.6% during the fourth quarter. Wealthfront Advisers LLC now owns 16,704 shares of the specialty retailer’s stock valued at $1,437,000 after acquiring an additional 1,318 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Lamb Weston by 6.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,101 shares of the specialty retailer’s stock valued at $3,192,000 after acquiring an additional 2,318 shares in the last quarter. Finally, Squar Milner Financial Services LLC grew its stake in shares of Lamb Weston by 27.6% during the fourth quarter. Squar Milner Financial Services LLC now owns 3,172 shares of the specialty retailer’s stock valued at $272,000 after acquiring an additional 686 shares in the last quarter. Hedge funds and other institutional investors own 88.13% of the company’s stock.
Shares of LW stock traded down $0.41 during trading hours on Thursday, hitting $90.87. 12,864 shares of the company were exchanged, compared to its average volume of 1,027,064. The company has a debt-to-equity ratio of 10.96, a quick ratio of 0.70 and a current ratio of 1.65. Lamb Weston Holdings Inc has a one year low of $58.83 and a one year high of $94.46. The business’s 50-day simple moving average is $87.40 and its two-hundred day simple moving average is $76.65. The stock has a market capitalization of $13.32 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 2.95 and a beta of 0.20.
Lamb Weston (NYSE:LW) last issued its quarterly earnings results on Friday, January 3rd. The specialty retailer reported $0.95 EPS for the quarter, topping the consensus estimate of $0.85 by $0.10. Lamb Weston had a net margin of 12.90% and a return on equity of 869.30%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $964.88 million. During the same quarter last year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, analysts anticipate that Lamb Weston Holdings Inc will post 3.5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be given a dividend of $0.23 per share. This is a boost from Lamb Weston’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, January 30th. This represents a $0.92 annualized dividend and a dividend yield of 1.01%. Lamb Weston’s dividend payout ratio (DPR) is presently 24.84%.
In other news, SVP Eryk J. Spytek sold 6,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $92.07, for a total transaction of $552,420.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William G. Jurgensen purchased 18,000 shares of Lamb Weston stock in a transaction dated Wednesday, January 8th. The shares were bought at an average cost of $92.01 per share, for a total transaction of $1,656,180.00. The disclosure for this purchase can be found here. Insiders have sold 23,668 shares of company stock worth $2,164,789 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.
LW has been the subject of several recent analyst reports. Zacks Investment Research upgraded Lamb Weston from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Monday, December 23rd. Barclays set a $83.00 target price on Lamb Weston and gave the company a “buy” rating in a research note on Friday, November 1st. TheStreet upgraded Lamb Weston from a “c+” rating to a “b” rating in a research note on Monday, October 28th. Jefferies Financial Group initiated coverage on Lamb Weston in a research note on Wednesday. They set a “hold” rating and a $96.00 target price for the company. Finally, ValuEngine downgraded Lamb Weston from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $83.86.
Lamb Weston Profile
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
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