Victory Capital Management Inc. Sells 40,478 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Victory Capital Management Inc. trimmed its position in Lamb Weston Holdings, Inc. (NYSE:LW) by 35.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 73,156 shares of the specialty retailer’s stock after selling 40,478 shares during the period. Victory Capital Management Inc. owned 0.05% of Lamb Weston worth $6,151,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of LW. Vanguard Group Inc. grew its holdings in Lamb Weston by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 16,695,138 shares of the specialty retailer’s stock worth $1,778,533,000 after acquiring an additional 60,601 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Lamb Weston by 15.1% in the fourth quarter. Franklin Resources Inc. now owns 1,842,751 shares of the specialty retailer’s stock worth $199,183,000 after purchasing an additional 241,848 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Lamb Weston by 11.7% in the first quarter. Champlain Investment Partners LLC now owns 1,233,420 shares of the specialty retailer’s stock valued at $131,396,000 after purchasing an additional 129,120 shares during the period. Artemis Investment Management LLP increased its holdings in Lamb Weston by 117.2% in the first quarter. Artemis Investment Management LLP now owns 1,230,538 shares of the specialty retailer’s stock valued at $131,035,000 after purchasing an additional 663,985 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Lamb Weston by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 998,572 shares of the specialty retailer’s stock worth $107,936,000 after purchasing an additional 27,253 shares during the last quarter. Institutional investors and hedge funds own 89.56% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup decreased their price target on Lamb Weston from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company decreased their target price on shares of Lamb Weston from $98.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Barclays dropped their price target on shares of Lamb Weston from $96.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Stifel Nicolaus cut shares of Lamb Weston from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $115.00 to $60.00 in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Lamb Weston from $108.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. One 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.70.

Lamb Weston Stock Performance

Shares of Lamb Weston stock opened at $64.17 on Monday. The business has a 50-day simple moving average of $64.75 and a 200 day simple moving average of $80.89. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 5.96 and a beta of 0.75. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.29 and a quick ratio of 0.59. Lamb Weston Holdings, Inc. has a one year low of $52.99 and a one year high of $111.88.

Lamb Weston (NYSE:LW) last issued its earnings results on Wednesday, July 24th. The specialty retailer reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.46). Lamb Weston had a return on equity of 44.06% and a net margin of 11.22%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.71 billion. On average, research analysts anticipate that Lamb Weston Holdings, Inc. will post 4.54 earnings per share for the current fiscal 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 given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, August 2nd. Lamb Weston’s payout ratio is presently 19.23%.

Insider Buying and Selling

In related news, Director William G. Jurgensen acquired 10,000 shares of the stock in a transaction dated Friday, July 26th. The stock was purchased at an average cost of $55.43 per share, with a total value of $554,300.00. Following the completion of the purchase, the director now directly 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 through this hyperlink. 1.66% of the stock is currently owned by company insiders.

Lamb Weston Company Profile

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.