Oppenheimer Asset Management Inc. Trims Stake in Lamb Weston Holdings, Inc. (NYSE:LW)

Oppenheimer Asset Management Inc. lessened its position in Lamb Weston Holdings, Inc. (NYSE:LW) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,924 shares of the specialty retailer’s stock after selling 667 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Lamb Weston were worth $642,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. City State Bank increased its stake in Lamb Weston by 56.2% in the third quarter. City State Bank now owns 417 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 150 shares during the period. Kornitzer Capital Management Inc. KS increased its stake in Lamb Weston by 0.8% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 18,756 shares of the specialty retailer’s stock worth $1,214,000 after buying an additional 156 shares during the period. Bridges Investment Management Inc. lifted its holdings in Lamb Weston by 2.8% during the 3rd quarter. Bridges Investment Management Inc. now owns 6,648 shares of the specialty retailer’s stock valued at $430,000 after buying an additional 181 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Lamb Weston by 1.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,382 shares of the specialty retailer’s stock valued at $1,125,000 after buying an additional 188 shares during the period. Finally, Fulton Bank N.A. grew its stake in Lamb Weston by 4.6% in the 3rd quarter. Fulton Bank N.A. now owns 4,592 shares of the specialty retailer’s stock worth $297,000 after acquiring an additional 201 shares in the last quarter. 89.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group lowered their price target on Lamb Weston from $132.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Citigroup upped their target price on Lamb Weston from $76.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. TD Cowen raised their price target on Lamb Weston from $61.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, September 24th. Barclays upped their price objective on shares of Lamb Weston from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Finally, Bank of America raised their target price on shares of Lamb Weston from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $82.22.

Lamb Weston Trading Down 2.3 %

NYSE LW opened at $75.07 on Wednesday. The firm has a market cap of $10.70 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.72. Lamb Weston Holdings, Inc. has a 52 week low of $52.99 and a 52 week high of $111.88. The company has a quick ratio of 0.54, a current ratio of 1.19 and a debt-to-equity ratio of 1.87. The company has a 50 day moving average price of $72.07 and a 200 day moving average price of $74.10.

Lamb Weston (NYSE:LW) last issued its quarterly earnings results on Tuesday, October 1st. The specialty retailer reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Lamb Weston had a return on equity of 34.33% and a net margin of 9.57%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the firm posted $1.63 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts forecast that Lamb Weston Holdings, Inc. will post 4.26 EPS for the current fiscal year.

Lamb Weston Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, November 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.92%. Lamb Weston’s payout ratio is 33.80%.

About Lamb Weston

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.