Argent Trust Co Buys 2,114 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Argent Trust Co lifted its stake in shares of Lamb Weston Holdings, Inc. (NYSE:LW) by 65.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,358 shares of the specialty retailer’s stock after purchasing an additional 2,114 shares during the quarter. Argent Trust Co’s holdings in Lamb Weston were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LW. Mutual of America Capital Management LLC boosted its stake in shares of Lamb Weston by 5.4% during the second quarter. Mutual of America Capital Management LLC now owns 40,645 shares of the specialty retailer’s stock valued at $3,417,000 after purchasing an additional 2,077 shares in the last quarter. Virtu Financial LLC acquired a new stake in Lamb Weston during the 2nd quarter worth approximately $1,344,000. Quantbot Technologies LP bought a new stake in Lamb Weston during the 2nd quarter worth approximately $2,998,000. Dimensional Fund Advisors LP grew its holdings in Lamb Weston by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,121,626 shares of the specialty retailer’s stock worth $94,300,000 after acquiring an additional 38,970 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in shares of Lamb Weston by 410.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 3,731 shares of the specialty retailer’s stock worth $314,000 after acquiring an additional 3,000 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director William G. Jurgensen bought 10,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were purchased at an average price of $55.43 per share, with a total value of $554,300.00. Following the transaction, the director now directly owns 173,377 shares in the company, valued at $9,610,287.11. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.66% of the stock is owned by corporate insiders.

Lamb Weston Price Performance

LW stock opened at $65.61 on Friday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.59 and a current ratio of 1.29. The business has a 50-day simple moving average of $63.70 and a two-hundred day simple moving average of $80.03. The company has a market capitalization of $9.47 billion, a P/E ratio of 8.76, a price-to-earnings-growth ratio of 5.96 and a beta of 0.75. Lamb Weston Holdings, Inc. has a 52-week low of $52.99 and a 52-week high of $111.88.

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

Lamb Weston Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Consumer Edge cut Lamb Weston from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Bank of America lifted their price objective on shares of Lamb Weston from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Lamb Weston from $108.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Wells Fargo & Company cut their price objective on shares of Lamb Weston from $98.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Finally, Stifel Nicolaus lowered 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.20.

Lamb Weston 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.