Chevy Chase Trust Holdings LLC Decreases Stock Position in Lamb Weston $LW

Chevy Chase Trust Holdings LLC cut its stake in Lamb Weston (NYSE:LW) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,863 shares of the specialty retailer’s stock after selling 271 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Lamb Weston worth $3,882,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American National Bank & Trust acquired a new stake in Lamb Weston in the second quarter valued at $25,000. Wayfinding Financial LLC acquired a new stake in Lamb Weston in the first quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Lamb Weston in the first quarter valued at $28,000. ST Germain D J Co. Inc. raised its stake in Lamb Weston by 64.2% in the second quarter. ST Germain D J Co. Inc. now owns 537 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 210 shares in the last quarter. Finally, Ameriflex Group Inc. raised its stake in Lamb Weston by 407.7% in the second quarter. Ameriflex Group Inc. now owns 594 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 477 shares in the last quarter. 89.56% of the stock is currently owned by hedge funds and other institutional investors.

Lamb Weston Stock Up 0.8%

LW opened at $65.56 on Tuesday. The business’s 50-day simple moving average is $58.10 and its 200-day simple moving average is $54.98. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.77 and a current ratio of 1.49. Lamb Weston has a one year low of $47.87 and a one year high of $83.98. The stock has a market capitalization of $9.14 billion, a P/E ratio of 31.37, a price-to-earnings-growth ratio of 4.31 and a beta of 0.52.

Lamb Weston (NYSE:LW) last released its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.64 earnings per share (EPS) for the quarter. Lamb Weston had a return on equity of 28.08% and a net margin of 4.56%.The firm had revenue of $1.15 billion for the quarter. Analysts anticipate that Lamb Weston will post 3.1 EPS for the current year.

Lamb Weston Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, October 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.3%. Lamb Weston’s dividend payout ratio (DPR) is currently 70.81%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LW shares. Weiss Ratings cut Lamb Weston from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. BNP Paribas Exane raised their price target on Lamb Weston from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft raised their price target on Lamb Weston from $59.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, October 1st. Sanford C. Bernstein set a $65.00 price target on Lamb Weston and gave the company a “market perform” rating in a research note on Wednesday, October 1st. Finally, Cfra Research upgraded Lamb Weston to a “hold” rating in a research report on Thursday, October 2nd. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $65.70.

About Lamb Weston

Lamb Weston Holdings, Inc produces, distributes, and markets frozen potato products worldwide. The company operates through four segments: Global, Foodservice, Retail, and Other. It offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels.