Harbour Investments Inc. lifted its position in Lamb Weston (NYSE:LW – Free Report) by 11,283.0% in the fourth quarter, Holdings Channel reports. The firm owned 60,899 shares of the specialty retailer’s stock after buying an additional 60,364 shares during the period. Harbour Investments Inc.’s holdings in Lamb Weston were worth $2,551,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Lamb Weston by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,679,203 shares of the specialty retailer’s stock valued at $698,692,000 after purchasing an additional 43,766 shares during the period. State Street Corp raised its holdings in shares of Lamb Weston by 1.1% in the 2nd quarter. State Street Corp now owns 5,801,585 shares of the specialty retailer’s stock valued at $300,812,000 after purchasing an additional 63,865 shares in the last quarter. Invesco Ltd. increased its holdings in Lamb Weston by 2.5% during the third quarter. Invesco Ltd. now owns 3,286,305 shares of the specialty retailer’s stock valued at $190,869,000 after buying an additional 79,257 shares during the period. M&T Bank Corp increased its holdings in Lamb Weston by 45,177.0% during the fourth quarter. M&T Bank Corp now owns 2,835,245 shares of the specialty retailer’s stock valued at $118,768,000 after buying an additional 2,828,983 shares during the period. Finally, Capital Research Global Investors increased its holdings in Lamb Weston by 46.3% during the third quarter. Capital Research Global Investors now owns 2,150,000 shares of the specialty retailer’s stock valued at $124,872,000 after buying an additional 680,000 shares during the period. Hedge funds and other institutional investors own 89.56% of the company’s stock.
Insider Buying and Selling at Lamb Weston
In other Lamb Weston news, Director Peter J. Bensen acquired 5,000 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was purchased at an average price of $39.45 per share, for a total transaction of $197,250.00. Following the acquisition, the director owned 17,204 shares in the company, valued at approximately $678,697.80. This trade represents a 40.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jana Partners Management, Lp acquired 50,000 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were acquired at an average price of $43.19 per share, with a total value of $2,159,500.00. Following the acquisition, the director owned 5,398,980 shares in the company, valued at approximately $233,181,946.20. The trade was a 0.93% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 391,000 shares of company stock valued at $16,270,790. Company insiders own 0.29% of the company’s stock.
Lamb Weston Stock Performance
Lamb Weston (NYSE:LW – Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The specialty retailer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.61 by $0.11. Lamb Weston had a return on equity of 23.77% and a net margin of 4.61%.The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted $1.10 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts predict that Lamb Weston will post 2.85 earnings per share for the current fiscal year.
Lamb Weston Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, May 8th. Lamb Weston’s dividend payout ratio is currently 71.03%.
Analysts Set New Price Targets
Several brokerages have issued reports on LW. Bank of America dropped their target price on Lamb Weston from $49.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Zacks Research raised Lamb Weston from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on Lamb Weston from $46.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Wells Fargo & Company dropped their target price on Lamb Weston from $54.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Finally, Barclays dropped their target price on Lamb Weston from $55.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Lamb Weston has an average rating of “Hold” and a consensus target price of $47.82.
Read Our Latest Research Report on LW
Lamb Weston Company Profile
Lamb Weston, traded on the NYSE under the symbol LW, is a leading global processor and supplier of frozen potato products. The company’s portfolio includes a variety of potato-based items such as French fries, potato wedges, hash browns and specialty cuts tailored to the foodservice and retail grocery channels. Lamb Weston serves quick-service restaurants, full-service operators, grocery chains and food distributors, offering customized product formats, packaging solutions and seasoning options to meet evolving customer demands.
Founded in 1950 and headquartered in Eagle, Idaho, Lamb Weston has grown from a regional processor into one of the world’s largest producers of frozen potato products.
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