TD Asset Management Inc Sells 4,596 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

TD Asset Management Inc reduced its position in Lamb Weston Holdings, Inc. (NYSE:LW) by 8.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,622 shares of the specialty retailer’s stock after selling 4,596 shares during the quarter. TD Asset Management Inc’s holdings in Lamb Weston were worth $4,256,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Avantax Advisory Services Inc. raised its stake in Lamb Weston by 3.7% in the first quarter. Avantax Advisory Services Inc. now owns 3,806 shares of the specialty retailer’s stock valued at $405,000 after purchasing an additional 135 shares in the last quarter. Somerset Trust Co raised its stake in Lamb Weston by 4.5% in the first quarter. Somerset Trust Co now owns 3,401 shares of the specialty retailer’s stock valued at $362,000 after purchasing an additional 145 shares in the last quarter. Camarda Financial Advisors LLC raised its stake in Lamb Weston by 0.9% in the first quarter. Camarda Financial Advisors LLC now owns 16,389 shares of the specialty retailer’s stock valued at $1,746,000 after purchasing an additional 151 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Lamb Weston by 31.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 655 shares of the specialty retailer’s stock worth $70,000 after acquiring an additional 158 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC raised its stake in shares of Lamb Weston by 1.2% during the first quarter. Summit Financial Wealth Advisors LLC now owns 13,556 shares of the specialty retailer’s stock worth $1,444,000 after acquiring an additional 161 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors.

Lamb Weston Stock Performance

NYSE:LW opened at $62.57 on Thursday. The stock has a market cap of $8.99 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 6.00 and a beta of 0.75. The firm’s fifty day simple moving average is $65.89 and its 200 day simple moving average is $81.55. Lamb Weston Holdings, Inc. has a twelve month low of $52.99 and a twelve month high of $111.88. The company has a quick ratio of 0.59, a current ratio of 1.29 and a debt-to-equity ratio of 1.92.

Lamb Weston (NYSE:LW) last released its quarterly earnings results on Wednesday, July 24th. The specialty retailer reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.46). The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.71 billion. Lamb Weston had a net margin of 11.22% and a return on equity of 44.06%. As a group, research analysts predict that Lamb Weston Holdings, Inc. will post 4.54 EPS for the current year.

Lamb Weston Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, August 2nd. Lamb Weston’s dividend payout ratio (DPR) is presently 19.23%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. The Goldman Sachs Group decreased their price target on shares of Lamb Weston from $132.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Stifel Nicolaus downgraded shares of Lamb Weston from a “buy” rating to a “hold” rating and decreased their price target for the stock from $115.00 to $60.00 in a research note on Thursday, July 25th. Citigroup decreased their price target on shares of Lamb Weston from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price target on shares of Lamb Weston from $108.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Finally, TD Cowen downgraded shares of Lamb Weston from a “buy” rating to a “hold” rating and decreased their target price for the stock from $105.00 to $61.00 in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lamb Weston presently has a consensus rating of “Moderate Buy” and an average price target of $87.70.

Insider Activity

In other Lamb Weston news, Director William G. Jurgensen bought 10,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $55.43 per share, for a total transaction of $554,300.00. Following the acquisition, the director now owns 173,377 shares in the company, valued at approximately $9,610,287.11. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.66% of the company’s stock.

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.