Bank of New York Mellon Corp Increases Stock Holdings in Lamb Weston $LW

Bank of New York Mellon Corp boosted its position in shares of Lamb Weston (NYSE:LW) by 29.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 912,668 shares of the specialty retailer’s stock after purchasing an additional 207,210 shares during the period. Bank of New York Mellon Corp’s holdings in Lamb Weston were worth $47,322,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. American National Bank & Trust acquired a new stake in shares of Lamb Weston during the 2nd quarter worth approximately $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Lamb Weston in the first quarter worth approximately $28,000. ST Germain D J Co. Inc. increased its stake in Lamb Weston by 64.2% during the second quarter. ST Germain D J Co. Inc. now owns 537 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 210 shares during the last quarter. Ameriflex Group Inc. raised its position in Lamb Weston by 407.7% in the second quarter. Ameriflex Group Inc. now owns 594 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 477 shares during the period. Finally, City State Bank lifted its stake in shares of Lamb Weston by 86.8% in the 2nd quarter. City State Bank now owns 779 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 362 shares during the last quarter. 89.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Lamb Weston in a report on Wednesday, August 20th. They set a “neutral” rating and a $57.00 price target for the company. Sanford C. Bernstein set a $65.00 target price on shares of Lamb Weston and gave the stock a “market perform” rating in a research note on Wednesday, October 1st. Cfra Research upgraded shares of Lamb Weston to a “hold” rating in a research report on Thursday, October 2nd. BNP Paribas Exane boosted their price target on shares of Lamb Weston from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Finally, Cowen reaffirmed a “hold” rating on shares of Lamb Weston in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.70.

Lamb Weston Stock Down 0.5%

Shares of NYSE:LW opened at $60.07 on Wednesday. The firm has a market capitalization of $8.37 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 4.00 and a beta of 0.51. Lamb Weston has a 1 year low of $47.87 and a 1 year high of $83.98. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.49 and a quick ratio of 0.77. The firm’s 50-day moving average is $60.55 and its two-hundred day moving average is $56.06.

Lamb Weston (NYSE:LW) last posted its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.64 EPS for the quarter. Lamb Weston had a net margin of 4.56% and a return on equity of 28.08%. The business had revenue of $1.15 billion during the quarter. Analysts predict that Lamb Weston will post 3.1 EPS for the current year.

Lamb Weston Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, October 31st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, October 31st. Lamb Weston’s dividend payout ratio (DPR) is presently 70.81%.

Lamb Weston Profile

Lamb Weston Holdings, Inc produces, distributes, and markets frozen potato products worldwide. The company operates through four segments: Global, Foodservice, Retail, and Other. It offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels.