New York State Common Retirement Fund cut its holdings in shares of Lamb Weston Holdings Inc (NYSE:LW) by 1.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 429,110 shares of the specialty retailer’s stock after selling 7,800 shares during the period. New York State Common Retirement Fund owned approximately 0.29% of Lamb Weston worth $36,916,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of LW. Victory Capital Management Inc. lifted its stake in Lamb Weston by 17.8% in the 4th quarter. Victory Capital Management Inc. now owns 220,997 shares of the specialty retailer’s stock valued at $20,179,000 after buying an additional 33,389 shares in the last quarter. Cambridge Trust Co. lifted its stake in Lamb Weston by 1.6% in the 4th quarter. Cambridge Trust Co. now owns 144,360 shares of the specialty retailer’s stock valued at $12,419,000 after buying an additional 2,297 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Lamb Weston by 1.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,505 shares of the specialty retailer’s stock valued at $1,506,000 after buying an additional 328 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Lamb Weston in the 4th quarter valued at about $2,813,000. Finally, Prime Capital Investment Advisors LLC purchased a new position in Lamb Weston in the 4th quarter valued at about $79,000. Hedge funds and other institutional investors own 87.90% of the company’s stock.
In related news, SVP Michael Jared Smith sold 5,500 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $91.22, for a total value of $501,710.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Jurgensen bought 18,000 shares of Lamb Weston stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average cost of $92.01 per share, with a total value of $1,656,180.00. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 23,668 shares of company stock valued at $2,164,789. Insiders own 0.82% of the company’s stock.
Lamb Weston (NYSE:LW) last posted its earnings results on Friday, January 3rd. The specialty retailer reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.10. Lamb Weston had a net margin of 12.90% and a return on equity of 869.30%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $964.88 million. During the same quarter last year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities research analysts forecast that Lamb Weston Holdings Inc will post 3.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be paid a $0.23 dividend. This is an increase from Lamb Weston’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $0.92 annualized dividend and a dividend yield of 0.97%. Lamb Weston’s payout ratio is 28.57%.
A number of research analysts have weighed in on LW shares. Jefferies Financial Group started coverage on shares of Lamb Weston in a research note on Wednesday, January 22nd. They issued a “hold” rating and a $96.00 target price on the stock. TheStreet raised shares of Lamb Weston from a “c+” rating to a “b” rating in a research note on Monday, October 28th. Zacks Investment Research raised shares of Lamb Weston from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Monday, December 23rd. ValuEngine lowered shares of Lamb Weston from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Barclays set a $83.00 target price on shares of Lamb Weston and gave the stock a “buy” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Lamb Weston has a consensus rating of “Buy” and a consensus price target of $83.86.
About Lamb Weston
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
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