Kingsview Wealth Management LLC cut its holdings in shares of Lamb Weston (NYSE:LW – Free Report) by 26.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,403 shares of the specialty retailer’s stock after selling 39,381 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Lamb Weston were worth $4,767,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Arnhold LLC grew its holdings in shares of Lamb Weston by 710.2% during the fourth quarter. Arnhold LLC now owns 38,217 shares of the specialty retailer’s stock valued at $1,601,000 after buying an additional 33,500 shares during the last quarter. Dana Investment Advisors Inc. raised its stake in Lamb Weston by 44.8% in the 4th quarter. Dana Investment Advisors Inc. now owns 89,991 shares of the specialty retailer’s stock worth $3,770,000 after acquiring an additional 27,835 shares during the last quarter. Principal Financial Group Inc. raised its stake in Lamb Weston by 349.1% in the 1st quarter. Principal Financial Group Inc. now owns 690,493 shares of the specialty retailer’s stock worth $29,180,000 after acquiring an additional 536,745 shares during the last quarter. Texas Yale Capital Corp. acquired a new stake in Lamb Weston during the 4th quarter worth about $1,264,000. Finally, Hsbc Holdings PLC grew its stake in Lamb Weston by 11.4% during the 1st quarter. Hsbc Holdings PLC now owns 525,541 shares of the specialty retailer’s stock valued at $21,762,000 after purchasing an additional 53,655 shares during the last quarter. Hedge funds and other institutional investors own 89.56% of the company’s stock.
Lamb Weston Stock Performance
NYSE LW opened at $54.94 on Friday. The firm has a market capitalization of $7.55 billion, a P/E ratio of 26.41, a PEG ratio of 2.44 and a beta of 0.46. The stock has a 50-day simple moving average of $49.76 and a two-hundred day simple moving average of $45.90. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.74 and a current ratio of 1.42. Lamb Weston has a fifty-two week low of $37.62 and a fifty-two week high of $67.07.
Lamb Weston Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 7th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.8%. Lamb Weston’s dividend payout ratio (DPR) is presently 73.08%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. TD Cowen raised their price objective on Lamb Weston from $40.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. upped their target price on Lamb Weston from $43.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Wells Fargo & Company increased their price target on shares of Lamb Weston from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Sanford C. Bernstein raised their price target on shares of Lamb Weston from $42.00 to $57.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Finally, Barclays lifted their price objective on shares of Lamb Weston from $50.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $53.36.
Check Out Our Latest Stock 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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