WBI Investments LLC Buys New Holdings in Lamb Weston $LW

WBI Investments LLC purchased a new position in Lamb Weston (NYSE:LW) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 24,531 shares of the specialty retailer’s stock, valued at approximately $1,272,000.

A number of other institutional investors have also added to or reduced their stakes in LW. Price T Rowe Associates Inc. MD raised its position in shares of Lamb Weston by 49.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,500,503 shares of the specialty retailer’s stock valued at $239,877,000 after buying an additional 1,483,559 shares during the last quarter. Citigroup Inc. increased its holdings in Lamb Weston by 324.4% in the 1st quarter. Citigroup Inc. now owns 1,126,982 shares of the specialty retailer’s stock valued at $60,068,000 after acquiring an additional 861,417 shares during the last quarter. Invesco Ltd. lifted its stake in Lamb Weston by 25.7% in the 1st quarter. Invesco Ltd. now owns 4,055,902 shares of the specialty retailer’s stock worth $216,180,000 after purchasing an additional 829,207 shares in the last quarter. Gates Capital Management Inc. boosted its holdings in shares of Lamb Weston by 49.8% during the 1st quarter. Gates Capital Management Inc. now owns 2,016,142 shares of the specialty retailer’s stock valued at $107,460,000 after purchasing an additional 670,611 shares during the last quarter. Finally, Clarkston Capital Partners LLC grew its position in shares of Lamb Weston by 21.1% during the first quarter. Clarkston Capital Partners LLC now owns 3,721,559 shares of the specialty retailer’s stock valued at $198,359,000 after purchasing an additional 648,855 shares in the last quarter. 89.56% of the stock is owned by hedge funds and other institutional investors.

Lamb Weston Stock Down 1.1%

Shares of LW opened at $56.37 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.49 and a debt-to-equity ratio of 2.05. The business has a fifty day moving average of $60.58 and a 200 day moving average of $56.21. The company has a market cap of $7.86 billion, a PE ratio of 26.97, a P/E/G ratio of 3.78 and a beta of 0.51. Lamb Weston has a 52-week low of $47.87 and a 52-week high of $83.98.

Lamb Weston (NYSE:LW) last announced its earnings results on Thursday, August 24th. The specialty retailer reported $0.64 earnings per share for the quarter. The business had revenue of $1.15 billion for the quarter. Lamb Weston had a net margin of 4.56% and a return on equity of 28.08%. On average, sell-side analysts expect that Lamb Weston will post 3.1 EPS for the current year.

Lamb Weston Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.6%. Lamb Weston’s dividend payout ratio is currently 70.81%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LW. Cowen reaffirmed a “hold” rating on shares of Lamb Weston in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Lamb Weston from $59.00 to $61.00 and gave the stock a “hold” rating in a research note on Wednesday, October 1st. Barclays increased their target price on Lamb Weston from $61.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. initiated coverage on shares of Lamb Weston in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $57.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on shares of Lamb Weston from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.70.

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.