US Bancorp DE decreased its stake in Lamb Weston Holdings Inc (NYSE:LW) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,717 shares of the specialty retailer’s stock after selling 4,925 shares during the period. US Bancorp DE’s holdings in Lamb Weston were worth $9,421,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of LW. MUFG Securities EMEA plc acquired a new position in Lamb Weston during the fourth quarter valued at approximately $13,793,000. Weiss Multi Strategy Advisers LLC acquired a new stake in Lamb Weston in the fourth quarter worth about $625,000. United Services Automobile Association lifted its holdings in Lamb Weston by 108.0% in the fourth quarter. United Services Automobile Association now owns 46,898 shares of the specialty retailer’s stock worth $3,450,000 after purchasing an additional 24,347 shares during the period. Timber Creek Capital Management LLC raised its position in Lamb Weston by 143.5% in the fourth quarter. Timber Creek Capital Management LLC now owns 526 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 310 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Lamb Weston by 9.3% in the fourth quarter. Legal & General Group Plc now owns 748,195 shares of the specialty retailer’s stock worth $55,037,000 after acquiring an additional 63,937 shares in the last quarter. Institutional investors and hedge funds own 82.78% of the company’s stock.
Lamb Weston stock traded down $0.95 during midday trading on Friday, hitting $62.13. The company’s stock had a trading volume of 2,018,143 shares, compared to its average volume of 1,724,652. Lamb Weston Holdings Inc has a 12 month low of $61.92 and a 12 month high of $83.86. The stock has a market cap of $9.56 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 1.73 and a beta of -0.26.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.80 annualized dividend and a yield of 1.29%. Lamb Weston’s payout ratio is presently 30.08%.
LW has been the topic of several research reports. Bank of America upgraded shares of Lamb Weston from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Tuesday, May 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Lamb Weston from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Thursday, April 4th. Stifel Nicolaus boosted their price target on shares of Lamb Weston from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Daiwa Capital Markets initiated coverage on shares of Lamb Weston in a research report on Wednesday, February 27th. They issued an “outperform” rating on the stock. Finally, Consumer Edge initiated coverage on shares of Lamb Weston in a research report on Friday, March 22nd. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $83.40.
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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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