Lamb Weston Holdings Inc (NYSE:LW) Stake Raised by Tyers Asset Management LLC
Tyers Asset Management LLC lifted its holdings in shares of Lamb Weston Holdings Inc (NYSE:LW) by 102.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,616 shares of the specialty retailer’s stock after buying an additional 11,440 shares during the period. Tyers Asset Management LLC’s holdings in Lamb Weston were worth $1,433,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Oakbrook Investments LLC raised its holdings in Lamb Weston by 2.3% during the second quarter. Oakbrook Investments LLC now owns 6,666 shares of the specialty retailer’s stock worth $422,000 after purchasing an additional 150 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Lamb Weston by 3.2% during the 2nd quarter. Advisory Services Network LLC now owns 4,880 shares of the specialty retailer’s stock valued at $309,000 after purchasing an additional 151 shares during the period. Clark Capital Management Group Inc. raised its stake in shares of Lamb Weston by 2.1% in the 2nd quarter. Clark Capital Management Group Inc. now owns 8,374 shares of the specialty retailer’s stock worth $531,000 after buying an additional 175 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Lamb Weston by 2.9% in the 2nd quarter. Bessemer Group Inc. now owns 6,367 shares of the specialty retailer’s stock worth $403,000 after buying an additional 180 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Lamb Weston by 1.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,717 shares of the specialty retailer’s stock worth $953,000 after buying an additional 191 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.
LW has been the subject of several research reports. Zacks Investment Research raised Lamb Weston from a “strong sell” rating to a “hold” rating and set a $55.00 target price for the company in a research note on Friday, July 26th. JPMorgan Chase & Co. initiated coverage on shares of Lamb Weston in a research report on Monday, June 17th. They issued a “neutral” rating and a $65.00 price target on the stock. Finally, Goldman Sachs Group raised shares of Lamb Weston from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a report on Wednesday, June 19th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Lamb Weston currently has an average rating of “Buy” and an average target price of $75.71.
Lamb Weston (NYSE:LW) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $972.49 million. Lamb Weston had a negative return on equity of 402.03% and a net margin of 12.48%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS. As a group, equities research analysts expect that Lamb Weston Holdings Inc will post 3.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Thursday, August 1st. Lamb Weston’s dividend payout ratio (DPR) is presently 24.84%.
Lamb Weston Company Profile
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
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