Harmony Asset Management LLC Purchases Shares of 2,607 Lamb Weston Holdings, Inc. (NYSE:LW)

Harmony Asset Management LLC acquired a new position in shares of Lamb Weston Holdings, Inc. (NYSE:LW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,607 shares of the specialty retailer’s stock, valued at approximately $219,000.

Several other hedge funds have also bought and sold shares of the company. Avantax Advisory Services Inc. boosted its stake in shares of 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 buying an additional 135 shares during the period. Somerset Trust Co increased its holdings in Lamb Weston by 4.5% in the 1st quarter. Somerset Trust Co now owns 3,401 shares of the specialty retailer’s stock valued at $362,000 after buying an additional 145 shares during the period. Camarda Financial Advisors LLC raised its position in shares of Lamb Weston by 0.9% in the 1st quarter. Camarda Financial Advisors LLC now owns 16,389 shares of the specialty retailer’s stock valued at $1,746,000 after buying an additional 151 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Lamb Weston by 31.8% during the 1st 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 lifted its stake in 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 purchasing an additional 161 shares during the last quarter. 89.56% of the stock is currently owned by institutional investors and hedge funds.

Lamb Weston Stock Down 0.3 %

Lamb Weston stock opened at $65.44 on Monday. The firm has a 50 day moving average price of $63.43 and a two-hundred day moving average price of $79.45. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.59 and a current ratio of 1.29. Lamb Weston Holdings, Inc. has a 52-week low of $52.99 and a 52-week high of $111.88. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 5.96 and a beta of 0.75.

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

Lamb Weston Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.44 annualized dividend and a yield of 2.20%. Lamb Weston’s dividend payout ratio is currently 19.23%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LW. TD Cowen lowered Lamb Weston from a “buy” rating to a “hold” rating and decreased their price target for the company from $105.00 to $61.00 in a research note on Thursday, July 25th. Consumer Edge cut shares of Lamb Weston from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Barclays reduced 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 note on Friday, July 26th. The Goldman Sachs Group lowered their price objective on shares of Lamb Weston from $132.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, Citigroup cut their target price 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.