Wells Fargo & Company MN lessened its holdings in shares of Lamb Weston Holdings Inc. (NYSE:LW) by 29.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,267,021 shares of the specialty retailer’s stock after selling 519,204 shares during the period. Wells Fargo & Company MN owned approximately 0.87% of Lamb Weston worth $59,410,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Schroder Investment Management Group acquired a new stake in shares of Lamb Weston during the second quarter valued at $106,000. Advisory Services Network LLC lifted its position in Lamb Weston by 81.5% during the second quarter. Advisory Services Network LLC now owns 3,094 shares of the specialty retailer’s stock worth $136,000 after buying an additional 1,389 shares during the period. First Mercantile Trust Co. purchased a new position in Lamb Weston during the second quarter worth about $137,000. Massey Quick Simon & CO. LLC purchased a new position in Lamb Weston during the third quarter worth about $146,000. Finally, Huntington National Bank purchased a new position in Lamb Weston during the third quarter worth about $155,000. 79.41% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on the company. Bank of America increased their target price on Lamb Weston from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Jefferies Group reiterated a “buy” rating and set a $58.00 target price (up from $53.00) on shares of Lamb Weston in a research report on Thursday, October 5th. Morgan Stanley reiterated an “equal weight” rating and set a $50.00 target price (up from $46.00) on shares of Lamb Weston in a research report on Thursday, October 5th. Finally, Zacks Investment Research upgraded Lamb Weston from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, October 6th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $50.63.
Lamb Weston Holdings Inc. (NYSE:LW) opened at $56.20 on Friday. The company has a market capitalization of $8,220.00 and a PE ratio of 23.90. The company has a quick ratio of 0.67, a current ratio of 1.62 and a debt-to-equity ratio of -4.10. Lamb Weston Holdings Inc. has a twelve month low of $34.15 and a twelve month high of $56.42.
Lamb Weston (NYSE:LW) last released its quarterly earnings data on Wednesday, October 4th. The specialty retailer reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The company had revenue of $817.50 million for the quarter, compared to the consensus estimate of $795.61 million. Lamb Weston had a negative return on equity of 50.81% and a net margin of 10.31%. Lamb Weston’s revenue for the quarter was up 5.3% on a year-over-year basis. equities research analysts anticipate that Lamb Weston Holdings Inc. will post 2.36 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were issued a $0.1875 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.33%. Lamb Weston’s dividend payout ratio (DPR) is 33.48%.
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About Lamb Weston
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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