Lamb Weston (NYSE:LW) Shares Sold by Weik Capital Management

Weik Capital Management cut its position in shares of Lamb Weston (NYSE:LW) by 16.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,585 shares of the specialty retailer’s stock after selling 2,115 shares during the quarter. Weik Capital Management’s holdings in Lamb Weston were worth $564,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Lamb Weston during the first quarter worth about $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Lamb Weston during the first quarter worth about $28,000. Whipplewood Advisors LLC increased its stake in Lamb Weston by 3,466.7% during the first quarter. Whipplewood Advisors LLC now owns 535 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 520 shares during the last quarter. Putney Financial Group LLC acquired a new stake in Lamb Weston during the fourth quarter worth about $34,000. Finally, CX Institutional acquired a new stake in Lamb Weston during the first quarter worth about $48,000. 89.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Barclays upped their price target on Lamb Weston from $61.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Bank of America decreased their target price on Lamb Weston from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Wednesday, June 18th. Wall Street Zen raised Lamb Weston from a “sell” rating to a “hold” rating in a research report on Thursday, May 8th. Stifel Nicolaus set a $56.00 target price on Lamb Weston and gave the stock a “hold” rating in a research report on Thursday, April 24th. Finally, Wells Fargo & Company upped their target price on Lamb Weston from $65.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.40.

Lamb Weston Trading Down 1.2%

Shares of LW opened at $54.17 on Friday. The company has a market capitalization of $7.55 billion, a P/E ratio of 21.58, a P/E/G ratio of 2.17 and a beta of 0.49. Lamb Weston has a one year low of $47.87 and a one year high of $83.98. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.68 and a current ratio of 1.38. The stock has a 50-day moving average price of $53.62 and a 200 day moving average price of $53.87.

Lamb Weston (NYSE:LW) last issued its quarterly earnings results on Wednesday, July 23rd. The specialty retailer reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.23. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.59 billion. Lamb Weston had a return on equity of 27.99% and a net margin of 5.54%. Lamb Weston’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.78 earnings per share. Sell-side analysts forecast that Lamb Weston will post 3.1 EPS for the current fiscal year.

Lamb Weston Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, August 1st. This represents a $1.48 annualized dividend and a yield of 2.7%. Lamb Weston’s dividend payout ratio is presently 58.96%.

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.