Fmr LLC cut its holdings in shares of Lamb Weston Holdings Inc (NYSE:LW) by 14.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,784,075 shares of the specialty retailer’s stock after selling 305,575 shares during the period. Fmr LLC’s holdings in Lamb Weston were worth $122,227,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Oppenheimer Asset Management Inc. lifted its holdings in Lamb Weston by 3.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 24,389 shares of the specialty retailer’s stock worth $1,671,000 after acquiring an additional 823 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Lamb Weston by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 386,944 shares of the specialty retailer’s stock valued at $26,511,000 after purchasing an additional 3,550 shares in the last quarter. Roosevelt Investment Group Inc. lifted its holdings in shares of Lamb Weston by 171.9% in the second quarter. Roosevelt Investment Group Inc. now owns 231,988 shares of the specialty retailer’s stock valued at $15,894,000 after purchasing an additional 146,678 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Lamb Weston by 2.4% in the second quarter. BlackRock Inc. now owns 13,875,099 shares of the specialty retailer’s stock valued at $950,584,000 after purchasing an additional 328,259 shares in the last quarter. Finally, GAM Holding AG bought a new stake in shares of Lamb Weston in the second quarter valued at about $1,433,000. Hedge funds and other institutional investors own 80.42% of the company’s stock.
LW has been the topic of a number of research reports. Bank of America boosted their price target on Lamb Weston from $65.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, June 19th. ValuEngine upgraded Lamb Weston from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Zacks Investment Research lowered Lamb Weston from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Jefferies Financial Group restated a “buy” rating and issued a $71.00 price target on shares of Lamb Weston in a report on Wednesday, June 6th. Finally, Vertical Research initiated coverage on Lamb Weston in a report on Monday, May 21st. They issued a “sell” rating on the stock. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $68.33.
Lamb Weston (NYSE:LW) last issued its quarterly earnings results on Wednesday, July 25th. The specialty retailer reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $918.20 million for the quarter, compared to analyst estimates of $885.67 million. Lamb Weston had a negative return on equity of 85.84% and a net margin of 12.16%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 earnings per share. analysts predict that Lamb Weston Holdings Inc will post 2.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 3rd were issued a dividend of $0.1913 per share. The ex-dividend date was Thursday, August 2nd. This represents a $0.77 annualized dividend and a yield of 1.12%. Lamb Weston’s payout ratio is presently 28.57%.
Lamb Weston Company 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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