Police & Firemen s Retirement System of New Jersey Acquires 30,630 Shares of Lamb Weston $LW

Police & Firemen s Retirement System of New Jersey grew its holdings in Lamb Weston (NYSE:LW) by 146.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,482 shares of the specialty retailer’s stock after acquiring an additional 30,630 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Lamb Weston were worth $2,669,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. American National Bank & Trust purchased a new stake in shares of Lamb Weston in the 2nd quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Lamb Weston in the first quarter worth about $28,000. ST Germain D J Co. Inc. increased its position in Lamb Weston by 64.2% in the second quarter. ST Germain D J Co. Inc. now owns 537 shares of the specialty retailer’s stock worth $28,000 after buying an additional 210 shares in the last quarter. Ameriflex Group Inc. lifted its position in shares of Lamb Weston by 407.7% during the 2nd quarter. Ameriflex Group Inc. now owns 594 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 477 shares in the last quarter. Finally, City State Bank lifted its position in shares of Lamb Weston by 86.8% during the 2nd quarter. City State Bank now owns 779 shares of the specialty retailer’s stock valued at $40,000 after buying an additional 362 shares in the last quarter. Hedge funds and other institutional investors own 89.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. BNP Paribas Exane increased their target price on shares of Lamb Weston from $64.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Cfra Research raised shares of Lamb Weston to a “hold” rating in a research note on Thursday, October 2nd. Cowen restated a “hold” rating on shares of Lamb Weston in a research note on Wednesday, October 1st. JPMorgan Chase & Co. began coverage on shares of Lamb Weston in a report on Wednesday, August 20th. They issued a “neutral” rating and a $57.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Lamb Weston from $59.00 to $61.00 and gave the company a “hold” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Lamb Weston has an average rating of “Hold” and an average target price of $65.70.

Lamb Weston Price Performance

Shares of NYSE:LW opened at $56.21 on Wednesday. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 3.73 and a beta of 0.51. The firm has a fifty day moving average price of $60.57 and a 200 day moving average price of $56.24. Lamb Weston has a fifty-two week low of $47.87 and a fifty-two week high of $83.98. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.77 and a current ratio of 1.49.

Lamb Weston (NYSE:LW) last announced its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.64 EPS for the quarter. Lamb Weston had a net margin of 4.56% and a return on equity of 28.08%. The business had revenue of $1.15 billion for the quarter. As a group, sell-side analysts expect that Lamb Weston will post 3.1 earnings per share for the current fiscal year.

Lamb Weston Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, October 31st will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 31st. Lamb Weston’s payout ratio is currently 70.81%.

About Lamb Weston

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.