Cetera Investment Advisers raised its position in shares of Lamb Weston (NYSE:LW – Free Report) by 72.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 196,147 shares of the specialty retailer’s stock after buying an additional 82,149 shares during the quarter. Cetera Investment Advisers owned about 0.14% of Lamb Weston worth $8,289,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Lamb Weston by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 16,679,203 shares of the specialty retailer’s stock worth $698,692,000 after acquiring an additional 43,766 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Lamb Weston by 27.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,824,690 shares of the specialty retailer’s stock valued at $411,558,000 after acquiring an additional 2,111,874 shares during the last quarter. State Street Corp boosted its stake in Lamb Weston by 1.1% in the second quarter. State Street Corp now owns 5,801,585 shares of the specialty retailer’s stock valued at $300,812,000 after acquiring an additional 63,865 shares in the last quarter. Geode Capital Management LLC grew its holdings in Lamb Weston by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,528,402 shares of the specialty retailer’s stock worth $147,536,000 after purchasing an additional 21,256 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Lamb Weston by 2.5% in the third quarter. Invesco Ltd. now owns 3,286,305 shares of the specialty retailer’s stock worth $190,869,000 after purchasing an additional 79,257 shares during the last quarter. 89.56% of the stock is currently owned by institutional investors.
Lamb Weston Trading Down 1.7%
NYSE:LW opened at $52.62 on Friday. The company has a market capitalization of $7.23 billion, a P/E ratio of 25.30, a PEG ratio of 2.39 and a beta of 0.47. The company has a current ratio of 1.42, a quick ratio of 0.74 and a debt-to-equity ratio of 1.97. Lamb Weston has a 12 month low of $37.62 and a 12 month high of $67.07. The firm has a fifty day simple moving average of $45.80 and a 200-day simple moving average of $44.69.
Lamb Weston Dividend Announcement
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 issued a $0.38 dividend. 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 2.9%. Lamb Weston’s dividend payout ratio is currently 73.08%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on LW shares. TD Cowen upped their price target on Lamb Weston from $40.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday. Sanford C. Bernstein boosted their target price on Lamb Weston from $42.00 to $57.00 and gave the stock a “market perform” rating in a research note on Tuesday. Wells Fargo & Company upped their target price on Lamb Weston from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday. Wall Street Zen upgraded Lamb Weston from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Stephens increased their price target on Lamb Weston from $46.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Lamb Weston currently has an average rating of “Hold” and a consensus price target of $53.36.
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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