Cedar Wealth Management LLC Takes Position in Lamb Weston Holdings, Inc. (NYSE:LW)

Cedar Wealth Management LLC purchased a new stake in shares of Lamb Weston Holdings, Inc. (NYSE:LW) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 4,968 shares of the specialty retailer’s stock, valued at approximately $418,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sei Investments Co. raised its position in Lamb Weston by 20.0% in the first quarter. Sei Investments Co. now owns 207,710 shares of the specialty retailer’s stock valued at $22,128,000 after purchasing an additional 34,553 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Lamb Weston by 66.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,643 shares of the specialty retailer’s stock valued at $4,028,000 after acquiring an additional 15,364 shares during the period. Empowered Funds LLC acquired a new stake in Lamb Weston in the first quarter worth $810,000. Confluence Investment Management LLC bought a new position in Lamb Weston in the second quarter worth approximately $7,937,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Lamb Weston in the 1st quarter worth about $28,000. 89.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

LW has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on Lamb Weston from $98.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Stifel Nicolaus downgraded 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 report on Thursday, July 25th. JPMorgan Chase & Co. dropped their price objective on Lamb Weston from $108.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Consumer Edge lowered shares of Lamb Weston from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Finally, Citigroup dropped 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.20.

Lamb Weston Price Performance

Shares of NYSE:LW opened at $65.61 on Friday. The firm has a market capitalization of $9.47 billion, a PE ratio of 8.76, a P/E/G ratio of 5.96 and a beta of 0.75. The company has a quick ratio of 0.59, a current ratio of 1.29 and a debt-to-equity ratio of 1.92. The company has a 50-day moving average price of $63.70 and a two-hundred day moving average price of $80.03. Lamb Weston Holdings, Inc. has a twelve month low of $52.99 and a twelve month high of $111.88.

Lamb Weston (NYSE:LW) last released its quarterly earnings data 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 net margin of 11.22% and a return on equity of 44.06%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Equities analysts forecast that Lamb Weston Holdings, Inc. will post 4.54 EPS for the current year.

Lamb Weston Announces Dividend

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

Insider Buying and Selling at Lamb Weston

In other news, Director William G. Jurgensen bought 10,000 shares of the stock in a transaction on Friday, July 26th. The shares were acquired at an average cost of $55.43 per share, for a total transaction of $554,300.00. Following the purchase, the director now directly owns 173,377 shares of the company’s stock, valued at approximately $9,610,287.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.66% of the company’s stock.

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.