ING Groep NV Buys 4,154 Shares of Lamb Weston Holdings Inc (LW)
ING Groep NV lifted its stake in shares of Lamb Weston Holdings Inc (NYSE:LW) by 36.8% during the 4th quarter, Holdings Channel reports. The firm owned 15,430 shares of the specialty retailer’s stock after purchasing an additional 4,154 shares during the quarter. ING Groep NV’s holdings in Lamb Weston were worth $871,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of LW. Kensico Capital Management Corp boosted its holdings in shares of Lamb Weston by 56.9% during the 3rd quarter. Kensico Capital Management Corp now owns 3,640,000 shares of the specialty retailer’s stock worth $170,680,000 after purchasing an additional 1,320,000 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Lamb Weston by 1,254.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 621,263 shares of the specialty retailer’s stock worth $35,070,000 after purchasing an additional 575,391 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Lamb Weston by 2,176.4% during the 3rd quarter. Artisan Partners Limited Partnership now owns 458,095 shares of the specialty retailer’s stock worth $21,480,000 after purchasing an additional 437,971 shares during the last quarter. KAMES CAPITAL plc boosted its holdings in shares of Lamb Weston by 2,097.9% during the 4th quarter. KAMES CAPITAL plc now owns 423,144 shares of the specialty retailer’s stock worth $23,886,000 after purchasing an additional 403,892 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Lamb Weston by 86.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 691,847 shares of the specialty retailer’s stock worth $32,227,000 after purchasing an additional 320,752 shares during the last quarter. Institutional investors and hedge funds own 79.50% of the company’s stock.
LW has been the topic of several recent research reports. Stifel Nicolaus restated a “hold” rating and set a $64.00 target price (up from $58.00) on shares of Lamb Weston in a report on Monday, January 22nd. Zacks Investment Research cut Lamb Weston from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Jefferies Group boosted their target price on Lamb Weston to $64.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Finally, Bank of America boosted their target price on Lamb Weston from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, November 6th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Lamb Weston currently has a consensus rating of “Buy” and a consensus price target of $58.14.
Lamb Weston (NYSE:LW) last released its quarterly earnings results on Thursday, January 4th. The specialty retailer reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The firm had revenue of $824.60 million for the quarter, compared to analyst estimates of $815.29 million. Lamb Weston had a net margin of 9.85% and a negative return on equity of 53.18%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS. analysts forecast that Lamb Weston Holdings Inc will post 2.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 2nd will be given a dividend of $0.1913 per share. This represents a $0.77 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Thursday, February 1st. This is a positive change from Lamb Weston’s previous quarterly dividend of $0.19. Lamb Weston’s payout ratio is presently 35.19%.
In other news, Director Peter J. Bensen purchased 5,000 shares of Lamb Weston stock in a transaction dated Monday, January 8th. The shares were purchased at an average price of $58.18 per share, with a total value of $290,900.00. Following the transaction, the director now owns 1,935 shares in the company, valued at $112,578.30. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.26% of the stock is currently owned by insiders.
Lamb Weston 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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