Raymond James Financial Services Advisors Inc. reduced its stake in Lamb Weston Holdings Inc. (NYSE:LW) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,683 shares of the specialty retailer’s stock after selling 2,882 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Lamb Weston were worth $1,298,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Schroder Investment Management Group bought a new position in Lamb Weston in the 2nd quarter valued at approximately $106,000. Advisory Services Network LLC lifted its position in Lamb Weston by 81.5% in the 2nd quarter. Advisory Services Network LLC now owns 3,094 shares of the specialty retailer’s stock valued at $136,000 after acquiring an additional 1,389 shares in the last quarter. First Mercantile Trust Co. bought a new position in Lamb Weston in the 2nd quarter valued at approximately $137,000. IndexIQ Advisors LLC bought a new position in Lamb Weston in the 2nd quarter valued at approximately $149,000. Finally, Huntington National Bank bought a new position in Lamb Weston in the 3rd quarter valued at approximately $155,000. 79.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lamb Weston Holdings Inc. (LW) traded down $0.08 during mid-day trading on Thursday, reaching $53.95. The company’s stock had a trading volume of 1,096,800 shares, compared to its average volume of 979,129. Lamb Weston Holdings Inc. has a 1-year low of $32.01 and a 1-year high of $54.65. The company has a debt-to-equity ratio of -4.10, a current ratio of 1.62 and a quick ratio of 0.67. The stock has a market cap of $7,899.02 and a price-to-earnings ratio of 23.49.
Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Wednesday, October 4th. The specialty retailer reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The firm had revenue of $817.50 million during the quarter, compared to analyst estimates of $795.61 million. Lamb Weston had a negative return on equity of 50.81% and a net margin of 10.31%. The business’s revenue was up 5.3% on a year-over-year basis. equities analysts anticipate that Lamb Weston Holdings Inc. will post 2.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.39%. Lamb Weston’s payout ratio is 33.63%.
LW has been the subject of several analyst reports. Jefferies Group restated a “buy” rating and issued a $53.00 price objective on shares of Lamb Weston in a research note on Monday, September 25th. Zacks Investment Research upgraded Lamb Weston from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Friday, October 6th. Morgan Stanley restated an “equal weight” rating and issued a $50.00 price objective (up from $46.00) on shares of Lamb Weston in a research note on Thursday, October 5th. Finally, Bank of America upped their price objective on Lamb Weston from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.63.
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Lamb Weston Profile
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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