Kimelman & Baird LLC acquired a new position in shares of Lamb Weston Holdings, Inc. (NYSE:LW – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,447 shares of the specialty retailer’s stock, valued at approximately $206,000.
Other large investors have also modified their holdings of the company. WFA Asset Management Corp increased its position in Lamb Weston by 248.6% during the first quarter. WFA Asset Management Corp now owns 244 shares of the specialty retailer’s stock worth $26,000 after buying an additional 174 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Lamb Weston in the 1st quarter valued at $28,000. Crewe Advisors LLC raised its position in Lamb Weston by 357.5% in the 2nd quarter. Crewe Advisors LLC now owns 334 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 261 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Lamb Weston during the 1st quarter worth $32,000. Finally, GAMMA Investing LLC grew its position in Lamb Weston by 135.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 89.56% of the company’s stock.
Insider Buying and Selling at Lamb Weston
In other news, Director William G. Jurgensen purchased 10,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average price of $55.43 per share, with a total value 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 legal filing with the SEC, which is available at this hyperlink. 1.66% of the stock is owned by corporate insiders.
Lamb Weston Stock Performance
Lamb Weston (NYSE:LW – Get Free Report) last issued its earnings results on Wednesday, July 24th. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.46). The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Lamb Weston had a net margin of 11.22% and a return on equity of 44.06%. Analysts expect that Lamb Weston Holdings, Inc. will post 4.54 earnings per share for the current fiscal year.
Lamb Weston Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 1st will be given a dividend of $0.36 per share. The ex-dividend date is Friday, November 1st. This represents a $1.44 dividend on an annualized basis and a yield of 2.22%. Lamb Weston’s payout ratio is 19.23%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on LW shares. Citigroup upped their target price on shares of Lamb Weston from $72.00 to $75.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Consumer Edge cut Lamb Weston from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. Bank of America lifted their target price on Lamb Weston from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lamb Weston from $108.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.70.
View Our Latest Stock Report on LW
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.
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