Lamb Weston Holdings Inc. (LW) Holdings Raised by Rhumbline Advisers
Rhumbline Advisers boosted its stake in shares of Lamb Weston Holdings Inc. (NYSE:LW) by 12.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 302,474 shares of the specialty retailer’s stock after purchasing an additional 32,906 shares during the quarter. Rhumbline Advisers owned about 0.21% of Lamb Weston Holdings worth $14,183,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Schroder Investment Management Group bought a new stake in Lamb Weston Holdings during the second quarter worth approximately $106,000. Advisory Services Network LLC boosted its position in Lamb Weston Holdings by 81.5% during the second quarter. Advisory Services Network LLC now owns 3,094 shares of the specialty retailer’s stock worth $136,000 after purchasing an additional 1,389 shares during the period. First Mercantile Trust Co. bought a new stake in Lamb Weston Holdings during the second quarter worth approximately $137,000. Huntington National Bank bought a new stake in Lamb Weston Holdings during the third quarter worth approximately $155,000. Finally, IndexIQ Advisors LLC bought a new stake in Lamb Weston Holdings during the second quarter worth approximately $149,000. 79.88% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on LW. Zacks Investment Research cut Lamb Weston Holdings from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Bank of America Corporation upped their target price on Lamb Weston Holdings from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 target price (up previously from $53.00) on shares of Lamb Weston Holdings in a research report on Thursday, October 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $50.00 target price (up previously from $46.00) on shares of Lamb Weston Holdings in a research report on Thursday, October 5th. Three 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. Lamb Weston Holdings currently has a consensus rating of “Buy” and an average price target of $50.63.
Shares of Lamb Weston Holdings Inc. (NYSE LW) opened at $54.25 on Thursday. Lamb Weston Holdings Inc. has a 12-month low of $32.01 and a 12-month high of $54.27. The company has a debt-to-equity ratio of -4.10, a current ratio of 1.62 and a quick ratio of 0.67. The firm has a market capitalization of $7,856.63 and a P/E ratio of 23.36.
Lamb Weston Holdings (NYSE:LW) last posted its quarterly earnings data on Wednesday, October 4th. The specialty retailer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. Lamb Weston Holdings had a negative return on equity of 50.81% and a net margin of 10.31%. The company had revenue of $817.50 million during the quarter, compared to analysts’ expectations of $795.61 million. Lamb Weston Holdings’s quarterly revenue was up 5.3% compared to the same quarter last year. sell-side analysts anticipate that Lamb Weston Holdings Inc. will post 2.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be given a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.75 annualized dividend and a dividend yield of 1.38%. Lamb Weston Holdings’s dividend payout ratio is 33.63%.
Lamb Weston Holdings Company Profile
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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