Acorn Creek Capital LLC Trims Stake in Lamb Weston $LW

Acorn Creek Capital LLC trimmed its holdings in shares of Lamb Weston (NYSE:LW) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,269 shares of the specialty retailer’s stock after selling 229 shares during the quarter. Acorn Creek Capital LLC’s holdings in Lamb Weston were worth $532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LW. Price T Rowe Associates Inc. MD grew its position in Lamb Weston by 49.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,500,503 shares of the specialty retailer’s stock worth $239,877,000 after buying an additional 1,483,559 shares in the last quarter. Citigroup Inc. grew its position in Lamb Weston by 324.4% during the first quarter. Citigroup Inc. now owns 1,126,982 shares of the specialty retailer’s stock worth $60,068,000 after buying an additional 861,417 shares in the last quarter. Invesco Ltd. grew its position in Lamb Weston by 25.7% during the first quarter. Invesco Ltd. now owns 4,055,902 shares of the specialty retailer’s stock worth $216,180,000 after buying an additional 829,207 shares in the last quarter. Gates Capital Management Inc. grew its position in Lamb Weston by 49.8% during the first quarter. Gates Capital Management Inc. now owns 2,016,142 shares of the specialty retailer’s stock worth $107,460,000 after buying an additional 670,611 shares in the last quarter. Finally, Clarkston Capital Partners LLC grew its position in Lamb Weston by 21.1% during the first quarter. Clarkston Capital Partners LLC now owns 3,721,559 shares of the specialty retailer’s stock worth $198,359,000 after buying an additional 648,855 shares in the last quarter. 89.56% of the stock is currently owned by hedge funds and other institutional investors.

Lamb Weston Price Performance

LW opened at $63.72 on Friday. The stock has a 50-day moving average price of $56.64 and a 200-day moving average price of $54.59. Lamb Weston has a 12-month low of $47.87 and a 12-month high of $83.98. The company has a current ratio of 1.49, a quick ratio of 0.77 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $8.88 billion, a P/E ratio of 30.49, a PEG ratio of 4.32 and a beta of 0.52.

Lamb Weston (NYSE:LW) last released its earnings results on Thursday, August 24th. The specialty retailer reported $0.64 earnings per share for the quarter. Lamb Weston had a return on equity of 28.08% and a net margin of 4.56%.The company had revenue of $1.15 billion during the quarter. Equities analysts predict that Lamb Weston will post 3.1 earnings per share for the current fiscal year.

Lamb Weston Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, October 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, October 31st. Lamb Weston’s payout ratio is 70.81%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LW. Bank of America boosted their target price on Lamb Weston from $60.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. BNP Paribas Exane boosted their target price on Lamb Weston from $64.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Stifel Nicolaus set a $66.00 price objective on Lamb Weston in a report on Wednesday, October 1st. Cowen reiterated a “hold” rating on shares of Lamb Weston in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. began coverage on Lamb Weston in a report on Wednesday, August 20th. They issued a “neutral” rating and a $57.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $65.70.

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.