Summit Global Investments Sells 135,136 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Summit Global Investments reduced its stake in shares of Lamb Weston Holdings, Inc. (NYSE:LW) by 95.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,477 shares of the specialty retailer’s stock after selling 135,136 shares during the quarter. Summit Global Investments’ holdings in Lamb Weston were worth $700,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LW. VisionPoint Advisory Group LLC raised its holdings in shares of Lamb Weston by 113.4% in the third quarter. VisionPoint Advisory Group LLC now owns 303 shares of the specialty retailer’s stock worth $28,000 after buying an additional 161 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Lamb Weston during the 4th quarter valued at about $51,000. Covestor Ltd increased its holdings in shares of Lamb Weston by 300.6% in the third quarter. Covestor Ltd now owns 1,294 shares of the specialty retailer’s stock valued at $120,000 after purchasing an additional 971 shares during the period. Desjardins Global Asset Management Inc. raised its stake in shares of Lamb Weston by 537.1% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,134 shares of the specialty retailer’s stock worth $123,000 after purchasing an additional 956 shares during the last quarter. Finally, ZRC Wealth Management LLC acquired a new stake in shares of Lamb Weston during the fourth quarter worth about $129,000. Institutional investors own 89.56% of the company’s stock.

Lamb Weston Stock Up 0.7 %

LW stock opened at $85.08 on Friday. The firm has a market capitalization of $12.28 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.38 and a beta of 0.79. The company’s 50 day moving average price is $93.67 and its 200 day moving average price is $98.39. Lamb Weston Holdings, Inc. has a fifty-two week low of $77.41 and a fifty-two week high of $117.38. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.52 and a current ratio of 1.19.

Lamb Weston (NYSE:LW) last issued its quarterly earnings results on Thursday, April 4th. The specialty retailer reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.20). Lamb Weston had a net margin of 16.71% and a return on equity of 50.74%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm earned $1.43 EPS. The business’s revenue was up 16.3% on a year-over-year basis. On average, equities research analysts anticipate that Lamb Weston Holdings, Inc. will post 5.54 EPS for the current fiscal year.

Lamb Weston Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, May 2nd. Lamb Weston’s dividend payout ratio is presently 19.23%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LW shares. Bank of America reduced their target price on shares of Lamb Weston from $138.00 to $113.00 and set a “buy” rating for the company in a report on Friday, April 5th. Citigroup dropped their target price on Lamb Weston from $132.00 to $106.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Wells Fargo & Company lowered their price objective on Lamb Weston from $128.00 to $98.00 and set an “overweight” rating on the stock in a research report on Friday, April 5th. BNP Paribas initiated coverage on shares of Lamb Weston in a research note on Monday, March 11th. They issued an “outperform” rating and a $128.00 target price for the company. Finally, Barclays dropped their price target on shares of Lamb Weston from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Lamb Weston presently has a consensus rating of “Moderate Buy” and an average target price of $117.40.

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.