PNC Financial Services Group Inc. Has $1.73 Million Position in Lamb Weston $LW

PNC Financial Services Group Inc. lessened its holdings in Lamb Weston (NYSE:LW) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,288 shares of the specialty retailer’s stock after selling 1,463 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lamb Weston were worth $1,726,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in Lamb Weston by 12.1% in the second quarter. ProShare Advisors LLC now owns 24,173 shares of the specialty retailer’s stock valued at $1,253,000 after acquiring an additional 2,616 shares during the period. Midwest Trust Co acquired a new stake in Lamb Weston during the second quarter valued at approximately $979,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Lamb Weston in the 2nd quarter valued at approximately $939,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Lamb Weston by 20.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 150,571 shares of the specialty retailer’s stock worth $7,807,000 after buying an additional 25,635 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Lamb Weston during the 2nd quarter worth approximately $1,423,000. 89.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Sanford C. Bernstein set a $65.00 price target on Lamb Weston and gave the company a “market perform” rating in a research report on Wednesday, October 1st. Barclays increased their target price on shares of Lamb Weston from $61.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. BNP Paribas Exane lifted their price target on shares of Lamb Weston from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Wells Fargo & Company upped their price objective on shares of Lamb Weston from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Finally, Zacks Research upgraded shares of Lamb Weston from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.70.

Lamb Weston Stock Down 0.3%

Shares of NYSE LW opened at $56.03 on Thursday. Lamb Weston has a 12-month low of $47.87 and a 12-month high of $83.98. The firm’s 50-day simple moving average is $60.57 and its 200 day simple moving average is $56.24. The company has a quick ratio of 0.77, a current ratio of 1.49 and a debt-to-equity ratio of 2.05. The company has a market cap of $7.81 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 3.73 and a beta of 0.51.

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

Lamb Weston Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 31st. Lamb Weston’s payout ratio is 70.81%.

Lamb Weston 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.