Envestnet Portfolio Solutions Inc. Sells 45,600 Shares of Lamb Weston $LW

Envestnet Portfolio Solutions Inc. lessened its position in shares of Lamb Weston (NYSE:LW) by 69.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,636 shares of the specialty retailer’s stock after selling 45,600 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Lamb Weston were worth $1,018,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LW. Farther Finance Advisors LLC raised its stake in Lamb Weston by 47.6% during the first quarter. Farther Finance Advisors LLC now owns 1,823 shares of the specialty retailer’s stock worth $97,000 after buying an additional 588 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Lamb Weston by 328.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,630 shares of the specialty retailer’s stock valued at $2,325,000 after purchasing an additional 33,458 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Lamb Weston by 119.2% in the first quarter. Exchange Traded Concepts LLC now owns 7,667 shares of the specialty retailer’s stock valued at $409,000 after purchasing an additional 4,169 shares in the last quarter. QRG Capital Management Inc. increased its stake in Lamb Weston by 11.5% in the first quarter. QRG Capital Management Inc. now owns 5,713 shares of the specialty retailer’s stock valued at $305,000 after purchasing an additional 591 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Lamb Weston by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 16,715 shares of the specialty retailer’s stock valued at $890,000 after purchasing an additional 455 shares in the last quarter. Institutional investors own 89.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LW shares. Wells Fargo & Company lifted their price target on shares of Lamb Weston from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Barclays lifted their price target on shares of Lamb Weston from $61.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Bank of America lifted their price target on shares of Lamb Weston from $60.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. Sanford C. Bernstein set a $65.00 price target on shares of Lamb Weston and gave the company a “market perform” rating in a research note on Wednesday, October 1st. Finally, Cowen reaffirmed a “hold” rating on shares of Lamb Weston in a research note on Wednesday, October 1st. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $65.70.

Lamb Weston Stock Up 0.1%

Shares of NYSE LW opened at $65.02 on Friday. The stock has a market capitalization of $9.06 billion, a P/E ratio of 31.11, a P/E/G ratio of 4.31 and a beta of 0.52. The company has a 50-day moving average price of $57.82 and a 200-day moving average price of $54.96. Lamb Weston has a 1 year low of $47.87 and a 1 year high of $83.98. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.49 and a quick ratio of 0.77.

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

Lamb Weston Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, October 31st will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, October 31st. This represents a $1.48 annualized dividend and a yield of 2.3%. 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.