NewGen Asset Management Ltd Invests $180,000 in Lamb Weston Holdings, Inc. (NYSE:LW)

NewGen Asset Management Ltd purchased a new position in Lamb Weston Holdings, Inc. (NYSE:LW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,700 shares of the specialty retailer’s stock, valued at approximately $180,000. Lamb Weston makes up about 0.2% of NewGen Asset Management Ltd’s portfolio, making the stock its 25th biggest holding.

A number of other hedge funds have also recently bought and sold shares of LW. Coldstream Capital Management Inc. boosted its stake in Lamb Weston by 19.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,356 shares of the specialty retailer’s stock valued at $291,000 after acquiring an additional 707 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in shares of Lamb Weston in the 4th quarter worth approximately $213,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Lamb Weston by 20.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,016,944 shares of the specialty retailer’s stock worth $201,624,000 after acquiring an additional 503,095 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Lamb Weston during the 4th quarter worth about $707,000. Finally, State of Tennessee Department of Treasury raised its stake in Lamb Weston by 15.4% during the 4th quarter. State of Tennessee Department of Treasury now owns 70,519 shares of the specialty retailer’s stock valued at $4,713,000 after purchasing an additional 9,407 shares during the period. Institutional investors and hedge funds own 89.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on LW. Jefferies Financial Group cut their target price on shares of Lamb Weston from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $57.00 price objective on shares of Lamb Weston in a research report on Wednesday, March 19th. Stifel Nicolaus set a $56.00 price target on Lamb Weston and gave the company a “hold” rating in a research note on Thursday. Wells Fargo & Company dropped their price target on shares of Lamb Weston from $72.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Finally, StockNews.com upgraded shares of Lamb Weston from a “sell” rating to a “hold” rating in a research report on Tuesday, April 22nd. Nine investment 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 an average rating of “Hold” and an average price target of $70.64.

Lamb Weston Trading Down 1.3 %

NYSE LW opened at $51.90 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.53 and a debt-to-equity ratio of 2.26. The company has a market capitalization of $7.32 billion, a PE ratio of 20.51, a P/E/G ratio of 1.40 and a beta of 0.48. The stock has a 50-day simple moving average of $53.31 and a 200 day simple moving average of $64.02. Lamb Weston Holdings, Inc. has a 12 month low of $47.90 and a 12 month high of $89.51.

Lamb Weston (NYSE:LW) last posted its earnings results on Thursday, April 3rd. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.23. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Lamb Weston had a return on equity of 27.82% and a net margin of 5.80%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 earnings per share. Research analysts forecast that Lamb Weston Holdings, Inc. will post 3.1 EPS for the current year.

Lamb Weston Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 2nd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Friday, May 2nd. Lamb Weston’s payout ratio is 58.04%.

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.