Alberta Investment Management Corp cut its holdings in Lamb Weston Holdings Inc (NYSE:LW) by 55.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 47,033 shares of the specialty retailer’s stock after selling 58,700 shares during the quarter. Alberta Investment Management Corp’s holdings in Lamb Weston were worth $2,686,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its position in Lamb Weston by 8.0% in the first quarter. BlackRock Inc. now owns 15,100,445 shares of the specialty retailer’s stock worth $862,235,000 after acquiring an additional 1,123,994 shares in the last quarter. Capital Research Global Investors raised its holdings in Lamb Weston by 5.2% during the 4th quarter. Capital Research Global Investors now owns 10,925,270 shares of the specialty retailer’s stock worth $939,901,000 after buying an additional 538,398 shares during the period. State Street Corp raised its holdings in Lamb Weston by 3.1% during the 4th quarter. State Street Corp now owns 6,759,808 shares of the specialty retailer’s stock worth $581,546,000 after buying an additional 201,139 shares during the period. William Blair Investment Management LLC raised its holdings in Lamb Weston by 1.1% during the 4th quarter. William Blair Investment Management LLC now owns 3,430,368 shares of the specialty retailer’s stock worth $295,115,000 after buying an additional 36,370 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Lamb Weston by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 2,348,539 shares of the specialty retailer’s stock worth $201,645,000 after buying an additional 116,991 shares during the period. Hedge funds and other institutional investors own 84.97% of the company’s stock.
Several analysts have issued reports on LW shares. JPMorgan Chase & Co. cut their price objective on Lamb Weston from $62.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Barclays restated a “buy” rating and set a $60.00 price objective on shares of Lamb Weston in a report on Tuesday. Jefferies Financial Group restated a “hold” rating and set a $45.00 price objective on shares of Lamb Weston in a report on Thursday, April 2nd. Stifel Nicolaus cut their price objective on Lamb Weston from $92.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, April 2nd. Finally, Zacks Investment Research cut Lamb Weston from a “buy” rating to a “hold” rating and set a $73.00 target price on the stock. in a research note on Friday, March 13th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Lamb Weston has a consensus rating of “Hold” and an average target price of $61.00.
NYSE:LW opened at $57.22 on Friday. The company has a debt-to-equity ratio of 8.12, a current ratio of 1.85 and a quick ratio of 0.84. Lamb Weston Holdings Inc has a fifty-two week low of $39.06 and a fifty-two week high of $96.32. The stock’s 50-day moving average is $57.03 and its two-hundred day moving average is $76.54. The stock has a market cap of $8.15 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 6.30 and a beta of 0.84.
Lamb Weston (NYSE:LW) last released its earnings results on Wednesday, April 1st. The specialty retailer reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.15). Lamb Weston had a net margin of 12.12% and a return on equity of 342.27%. The business had revenue of $937.40 million for the quarter, compared to analysts’ expectations of $953.62 million. During the same period last year, the firm earned $0.95 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Lamb Weston Holdings Inc will post 2.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be paid a $0.23 dividend. The ex-dividend date is Thursday, May 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.61%. Lamb Weston’s payout ratio is 28.57%.
Lamb Weston Profile
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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