Vanguard Group Inc. reduced its stake in shares of Lamb Weston Holdings, Inc. (NYSE:LW) by 0.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 15,477,137 shares of the specialty retailer’s stock after selling 62,132 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Lamb Weston worth $1,248,386,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Lamb Weston by 67.4% in the second quarter. JPMorgan Chase & Co. now owns 3,671,926 shares of the specialty retailer’s stock valued at $296,179,000 after purchasing an additional 1,478,475 shares during the last quarter. Eaton Vance Management grew its position in shares of Lamb Weston by 495.5% in the first quarter. Eaton Vance Management now owns 915,908 shares of the specialty retailer’s stock valued at $70,964,000 after purchasing an additional 762,098 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Lamb Weston by 21.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,231,211 shares of the specialty retailer’s stock valued at $179,969,000 after purchasing an additional 388,100 shares during the last quarter. Armistice Capital LLC acquired a new stake in shares of Lamb Weston in the first quarter valued at approximately $21,539,000. Finally, Segantii Capital Management Ltd acquired a new stake in shares of Lamb Weston in the second quarter valued at approximately $21,375,000. Institutional investors own 85.29% of the company’s stock.
Several research firms have recently commented on LW. Zacks Investment Research lowered shares of Lamb Weston from a “buy” rating to a “hold” rating and set a $79.00 price target on the stock. in a research report on Tuesday, July 20th. Jefferies Financial Group reduced their price objective on shares of Lamb Weston from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, October 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lamb Weston presently has a consensus rating of “Buy” and a consensus target price of $86.33.
Shares of LW opened at $55.98 on Thursday. The company has a debt-to-equity ratio of 6.31, a quick ratio of 1.95 and a current ratio of 2.67. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 1.43 and a beta of 0.76. Lamb Weston Holdings, Inc. has a 1 year low of $54.18 and a 1 year high of $86.41. The company’s 50 day simple moving average is $62.75 and its 200 day simple moving average is $73.07.
Lamb Weston (NYSE:LW) last posted its quarterly earnings results on Wednesday, October 6th. The specialty retailer reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.18). The company had revenue of $984.20 million for the quarter, compared to analysts’ expectations of $1 billion. Lamb Weston had a return on equity of 58.42% and a net margin of 6.83%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS. Equities analysts expect that Lamb Weston Holdings, Inc. will post 2.42 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 3rd. Shareholders of record on Friday, November 5th will be paid a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, November 4th. Lamb Weston’s dividend payout ratio is currently 43.52%.
About Lamb Weston
Lamb Weston Holdings, Inc engages in the production, distribution, and marketing of value-added frozen potato products. It operates through the following business segments: Global, Foodservice, Retail, and Other. The Global segment includes branded and private label frozen potato products sold in North America and international markets.
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