IVY Lane Capital Management LLC Buys Shares of 27,000 Lamb Weston $LW

IVY Lane Capital Management LLC purchased a new stake in shares of Lamb Weston (NYSE:LW) during the fourth quarter, Holdings Channel reports. The fund purchased 27,000 shares of the specialty retailer’s stock, valued at approximately $1,131,000. Lamb Weston accounts for approximately 1.4% of IVY Lane Capital Management LLC’s investment portfolio, making the stock its 10th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Graham Capital Management L.P. acquired a new stake in Lamb Weston during the 4th quarter worth approximately $911,000. Panagora Asset Management Inc. acquired a new position in Lamb Weston in the 4th quarter valued at approximately $777,000. Mariner LLC raised its stake in shares of Lamb Weston by 53.7% during the fourth quarter. Mariner LLC now owns 40,705 shares of the specialty retailer’s stock valued at $1,705,000 after acquiring an additional 14,214 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Lamb Weston by 712.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 44,847 shares of the specialty retailer’s stock worth $1,879,000 after purchasing an additional 39,330 shares during the period. Finally, Adams Diversified Equity Fund Inc. lifted its holdings in shares of Lamb Weston by 99.6% during the fourth quarter. Adams Diversified Equity Fund Inc. now owns 185,400 shares of the specialty retailer’s stock worth $7,766,000 after purchasing an additional 92,500 shares during the period. Institutional investors and hedge funds own 89.56% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on LW shares. Deutsche Bank Aktiengesellschaft decreased their price objective on Lamb Weston from $46.00 to $40.00 and set a “hold” rating for the company in a report on Monday, March 30th. Stephens assumed coverage on Lamb Weston in a research note on Wednesday, May 27th. They issued an “equal weight” rating and a $46.00 price target for the company. Zacks Research upgraded Lamb Weston from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Stifel Nicolaus cut their price objective on Lamb Weston from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. Finally, Wells Fargo & Company reduced their target price on Lamb Weston from $54.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lamb Weston currently has an average rating of “Hold” and a consensus price target of $47.82.

Insider Activity at Lamb Weston

In other Lamb Weston news, Director Peter J. Bensen purchased 5,000 shares of the business’s stock in a transaction on Monday, April 6th. The shares were purchased at an average cost of $39.45 per share, for a total transaction of $197,250.00. Following the acquisition, the director owned 17,204 shares of the company’s stock, valued at approximately $678,697.80. This represents a 40.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jana Partners Management, Lp acquired 50,000 shares of Lamb Weston stock in a transaction dated Wednesday, April 15th. The shares were bought at an average cost of $43.19 per share, with a total value of $2,159,500.00. Following the transaction, the director owned 5,398,980 shares in the company, valued at approximately $233,181,946.20. This trade represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 391,000 shares of company stock valued at $16,270,790 in the last ninety days. 0.29% of the stock is currently owned by insiders.

Lamb Weston Price Performance

Shares of NYSE LW opened at $45.04 on Wednesday. The company has a market capitalization of $6.22 billion, a PE ratio of 21.04, a P/E/G ratio of 6.05 and a beta of 0.47. The company has a quick ratio of 0.69, a current ratio of 1.46 and a debt-to-equity ratio of 1.99. Lamb Weston has a twelve month low of $37.62 and a twelve month high of $67.07. The firm has a fifty day simple moving average of $43.06 and a 200 day simple moving average of $45.49.

Lamb Weston (NYSE:LW) last issued its quarterly earnings results on Wednesday, April 1st. The specialty retailer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.11. Lamb Weston had a return on equity of 23.77% and a net margin of 4.61%.The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted $1.10 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that Lamb Weston will post 2.85 EPS for the current year.

Lamb Weston Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were given a dividend of $0.38 per share. The ex-dividend date was Friday, May 8th. This represents a $1.52 annualized dividend and a dividend yield of 3.4%. Lamb Weston’s dividend payout ratio is presently 71.03%.

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.