Lamb Weston $LW Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in shares of Lamb Weston (NYSE:LW) by 9.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 791,947 shares of the specialty retailer’s stock after acquiring an additional 68,732 shares during the period. Envestnet Asset Management Inc.’s holdings in Lamb Weston were worth $41,062,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LW. Mirae Asset Global Investments Co. Ltd. grew its holdings in Lamb Weston by 4.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,786 shares of the specialty retailer’s stock worth $961,000 after acquiring an additional 741 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in Lamb Weston by 51.5% during the 1st quarter. Vontobel Holding Ltd. now owns 12,742 shares of the specialty retailer’s stock worth $679,000 after buying an additional 4,334 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Lamb Weston during the 1st quarter worth about $1,059,000. OneDigital Investment Advisors LLC lifted its holdings in Lamb Weston by 11.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 11,764 shares of the specialty retailer’s stock worth $627,000 after buying an additional 1,180 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in Lamb Weston by 9.6% during the 1st quarter. IFM Investors Pty Ltd now owns 35,050 shares of the specialty retailer’s stock worth $1,868,000 after buying an additional 3,077 shares during the last quarter. Institutional investors and hedge funds own 89.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays lifted their price target on Lamb Weston from $61.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Cfra Research raised shares of Lamb Weston to a “hold” rating in a report on Thursday, October 2nd. Bank of America raised their price objective on shares of Lamb Weston from $60.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, October 1st. Sanford C. Bernstein set a $65.00 price objective on shares of Lamb Weston and gave the stock a “market perform” rating in a report on Wednesday, October 1st. Finally, Zacks Research raised shares of Lamb Weston from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Lamb Weston has an average rating of “Hold” and an average price target of $65.70.

Lamb Weston Price Performance

LW stock opened at $61.73 on Friday. The company has a market capitalization of $8.60 billion, a P/E ratio of 29.54, a PEG ratio of 4.09 and a beta of 0.52. Lamb Weston has a twelve month low of $47.87 and a twelve month high of $83.98. The business has a 50 day simple moving average of $59.85 and a 200-day simple moving average of $55.60. The company has a current ratio of 1.49, a quick ratio of 0.77 and a debt-to-equity ratio of 2.05.

Lamb Weston (NYSE:LW) last announced its earnings results on Thursday, August 24th. The specialty retailer reported $0.64 EPS for the quarter. Lamb Weston had a net margin of 4.56% and a return on equity of 28.08%. The business had revenue of $1.15 billion during the quarter. As a group, equities analysts anticipate that Lamb Weston will post 3.1 EPS for the current year.

Lamb Weston Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, October 31st will be issued a $0.37 dividend. 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 2.4%. Lamb Weston’s payout ratio is presently 70.81%.

Lamb Weston Profile

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.