Lamb Weston Holdings Inc. (LW) Position Decreased by Bank of New York Mellon Corp
Bank of New York Mellon Corp reduced its position in shares of Lamb Weston Holdings Inc. (NYSE:LW) by 34.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,497,343 shares of the specialty retailer’s stock after selling 773,889 shares during the period. Bank of New York Mellon Corp owned 1.03% of Lamb Weston Holdings worth $65,943,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Lamb Weston Holdings by 9,609.1% in the first quarter. BlackRock Inc. now owns 11,612,822 shares of the specialty retailer’s stock worth $488,434,000 after buying an additional 11,493,214 shares in the last quarter. FMR LLC boosted its stake in Lamb Weston Holdings by 126.3% in the first quarter. FMR LLC now owns 3,331,242 shares of the specialty retailer’s stock worth $140,112,000 after buying an additional 1,859,263 shares in the last quarter. Ruffer LLP purchased a new stake in Lamb Weston Holdings during the first quarter worth $106,030,000. Kensico Capital Management Corp purchased a new stake in Lamb Weston Holdings during the first quarter worth $82,900,000. Finally, Wells Fargo & Company MN boosted its stake in Lamb Weston Holdings by 44.8% in the first quarter. Wells Fargo & Company MN now owns 1,924,511 shares of the specialty retailer’s stock worth $80,946,000 after buying an additional 595,283 shares in the last quarter. Institutional investors and hedge funds own 79.78% of the company’s stock.
Shares of Lamb Weston Holdings Inc. (LW) opened at 45.17 on Thursday. The firm has a market capitalization of $6.60 billion and a PE ratio of 20.35. Lamb Weston Holdings Inc. has a 1-year low of $28.75 and a 1-year high of $49.94. The company has a 50-day moving average of $44.35 and a 200-day moving average of $43.19.
Lamb Weston Holdings (NYSE:LW) last issued its quarterly earnings results on Tuesday, July 25th. The specialty retailer reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. The firm had revenue of $833 million during the quarter, compared to the consensus estimate of $810.85 million. During the same quarter last year, the firm posted $0.29 earnings per share. Lamb Weston Holdings’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict that Lamb Weston Holdings Inc. will post $2.30 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be issued a $0.1875 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.66%.
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A number of analysts have recently weighed in on LW shares. Zacks Investment Research cut shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, May 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 target price (up from $45.00) on shares of Lamb Weston Holdings in a research note on Wednesday, July 26th. Bank of America Corporation lifted their target price on shares of Lamb Weston Holdings from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Stifel Nicolaus cut shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating and lifted their target price for the stock from $42.00 to $44.00 in a research note on Tuesday, July 4th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Lamb Weston Holdings in a research note on Tuesday, May 9th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $46.22.
About Lamb Weston Holdings
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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