New York State Common Retirement Fund decreased its holdings in shares of Lamb Weston Holdings Inc (NYSE:LW) by 15.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 395,066 shares of the specialty retailer’s stock after selling 71,467 shares during the quarter. New York State Common Retirement Fund’s holdings in Lamb Weston were worth $29,606,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in LW. Oregon Public Employees Retirement Fund boosted its holdings in Lamb Weston by 4,768.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,807,491 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 2,749,828 shares during the last quarter. Millennium Management LLC raised its position in Lamb Weston by 372.0% during the fourth quarter. Millennium Management LLC now owns 2,900,859 shares of the specialty retailer’s stock worth $213,387,000 after acquiring an additional 2,286,275 shares in the last quarter. Norges Bank bought a new stake in Lamb Weston during the fourth quarter worth $107,505,000. Two Sigma Investments LP raised its position in Lamb Weston by 649.6% during the fourth quarter. Two Sigma Investments LP now owns 1,169,616 shares of the specialty retailer’s stock worth $86,037,000 after acquiring an additional 1,013,584 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Lamb Weston by 57.9% during the fourth quarter. Geode Capital Management LLC now owns 2,152,534 shares of the specialty retailer’s stock worth $158,094,000 after acquiring an additional 789,356 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.
Several analysts have issued reports on LW shares. Bank of America raised 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 raised 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 upped 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 started coverage on shares of Lamb Weston in a research report on Wednesday, February 27th. They set an “outperform” rating on the stock. Finally, Consumer Edge started coverage on shares of Lamb Weston in a research report on Friday, March 22nd. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Lamb Weston has an average rating of “Buy” and a consensus target price of $83.40.
Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Tuesday, April 2nd. The specialty retailer reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.13. The company had revenue of $926.80 million for the quarter, compared to analyst estimates of $898.46 million. Lamb Weston had a net margin of 12.47% and a negative return on equity of 230.44%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. On average, sell-side analysts predict that Lamb Weston Holdings Inc will post 3.2 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 3rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, May 2nd. Lamb Weston’s payout ratio is presently 30.08%.
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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