CIBC Asset Management Inc Has $1.30 Million Position in Lamb Weston $LW

CIBC Asset Management Inc raised its stake in shares of Lamb Weston (NYSE:LW) by 72.1% in the fourth quarter, Holdings Channel reports. The fund owned 31,106 shares of the specialty retailer’s stock after acquiring an additional 13,028 shares during the period. CIBC Asset Management Inc’s holdings in Lamb Weston were worth $1,303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC grew its holdings in shares of Lamb Weston by 115.5% in the 3rd quarter. AlphaQuest LLC now owns 446 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 239 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in Lamb Weston by 380.7% during the 4th quarter. Hantz Financial Services Inc. now owns 721 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 571 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Lamb Weston in the fourth quarter valued at about $48,000. Stance Capital LLC acquired a new position in Lamb Weston in the third quarter valued at about $51,000. Finally, Tema Etfs LLC bought a new stake in Lamb Weston during the fourth quarter worth about $51,000. Institutional investors and hedge funds own 89.56% of the company’s stock.

Lamb Weston Price Performance

Shares of LW stock opened at $42.56 on Tuesday. Lamb Weston has a 1 year low of $37.62 and a 1 year high of $67.07. The firm’s 50 day moving average is $42.52 and its 200-day moving average is $46.03. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 5.61 and a beta of 0.47. The company has a current ratio of 1.46, a quick ratio of 0.69 and a debt-to-equity ratio of 1.99.

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, beating analysts’ consensus estimates of $0.61 by $0.11. Lamb Weston had a net margin of 4.61% and a return on equity of 23.77%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the business posted $1.10 earnings per share. Lamb Weston’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Lamb Weston will post 2.85 EPS for the current fiscal year.

Lamb Weston Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, May 8th. Lamb Weston’s dividend payout ratio (DPR) is 71.03%.

Analyst Ratings Changes

LW has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lamb Weston from $46.00 to $40.00 and set a “hold” rating for the company in a report on Monday, March 30th. Wells Fargo & Company decreased their price target on Lamb Weston from $54.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. JPMorgan Chase & Co. dropped their price target on Lamb Weston from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, March 24th. Zacks Research upgraded Lamb Weston from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, BNP Paribas Exane reduced their price objective on Lamb Weston from $48.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Lamb Weston presently has an average rating of “Hold” and a consensus target price of $47.82.

Insider Buying and Selling at Lamb Weston

In other news, Director Jana Partners Management, Lp acquired 136,000 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was purchased at an average cost of $40.89 per share, with a total value of $5,561,040.00. Following the acquisition, the director owned 5,148,980 shares of the company’s stock, valued at $210,541,792.20. This trade represents a 2.71% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter J. Bensen bought 5,000 shares of the business’s stock in a transaction on Monday, April 6th. The shares were acquired at an average price of $39.45 per share, for a total transaction of $197,250.00. Following the completion of the transaction, the director owned 17,204 shares in the company, valued at approximately $678,697.80. This trade represents a 40.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 391,000 shares of company stock worth $16,270,790 in the last ninety days. 0.29% of the stock is currently owned by insiders.

Lamb Weston 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.