Lamb Weston Holdings, Inc. (NYSE:LW) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in Lamb Weston Holdings, Inc. (NYSE:LW) by 43.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 650,509 shares of the specialty retailer’s stock after acquiring an additional 197,621 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.45% of Lamb Weston worth $54,695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LW. Private Advisor Group LLC increased its holdings in Lamb Weston by 27.1% in the 4th quarter. Private Advisor Group LLC now owns 3,043 shares of the specialty retailer’s stock worth $329,000 after acquiring an additional 649 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Lamb Weston by 9.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,671 shares of the specialty retailer’s stock worth $397,000 after buying an additional 308 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Lamb Weston by 25.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 34,461 shares of the specialty retailer’s stock worth $3,725,000 after buying an additional 7,028 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of Lamb Weston during the fourth quarter worth $234,000. Finally, Norges Bank purchased a new stake in shares of Lamb Weston during the fourth quarter worth $93,553,000. Hedge funds and other institutional investors own 89.56% of the company’s stock.

Lamb Weston Stock Up 0.1 %

Shares of NYSE:LW opened at $65.77 on Thursday. The firm’s 50 day moving average price is $63.96 and its 200 day moving average price is $80.13. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 5.96 and a beta of 0.75. Lamb Weston Holdings, Inc. has a fifty-two week low of $52.99 and a fifty-two week 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 issued its 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 firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.71 billion. Lamb Weston had a net margin of 11.22% and a return on equity of 44.06%. As a group, equities research analysts predict that Lamb Weston Holdings, Inc. will post 4.54 earnings per share for the current fiscal year.

Lamb Weston Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.44 annualized dividend and a yield of 2.19%. Lamb Weston’s dividend payout ratio is currently 19.23%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LW shares. Wells Fargo & Company dropped their price objective on shares of Lamb Weston from $98.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Stifel Nicolaus cut shares of Lamb Weston from a “buy” rating to a “hold” rating and decreased their target price for the company from $115.00 to $60.00 in a research report on Thursday, July 25th. JPMorgan Chase & Co. reduced 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 report on Thursday, July 25th. Citigroup reduced 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 report on Wednesday, July 10th. Finally, Consumer Edge cut shares of Lamb Weston from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.20.

Insider Buying and Selling at Lamb Weston

In related news, Director William G. Jurgensen purchased 10,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $55.43 per share, for a total transaction of $554,300.00. Following the completion of the purchase, the director now directly owns 173,377 shares of the company’s stock, valued at approximately $9,610,287.11. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.66% of the stock is currently owned by 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.