TimesSquare Capital Management LLC cut its stake in Lamb Weston Holdings Inc (NYSE:LW) by 10.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 893,650 shares of the specialty retailer’s stock after selling 101,450 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Lamb Weston were worth $64,986,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in shares of Lamb Weston in the 3rd quarter worth approximately $420,000. Alps Advisors Inc. acquired a new position in shares of Lamb Weston in the 3rd quarter worth approximately $359,000. SG Americas Securities LLC raised its holdings in shares of Lamb Weston by 363.3% in the 3rd quarter. SG Americas Securities LLC now owns 57,277 shares of the specialty retailer’s stock worth $4,165,000 after buying an additional 44,914 shares in the last quarter. Unigestion Holding SA raised its holdings in shares of Lamb Weston by 8.8% in the 3rd quarter. Unigestion Holding SA now owns 974,502 shares of the specialty retailer’s stock worth $70,865,000 after buying an additional 79,150 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Lamb Weston by 10.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 6,525 shares of the specialty retailer’s stock worth $474,000 after buying an additional 630 shares in the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on LW shares. Zacks Investment Research raised Lamb Weston from a “strong sell” rating to a “hold” rating and set a $55.00 price target for the company in a report on Friday, July 26th. ValuEngine raised Lamb Weston from a “hold” rating to a “buy” rating in a report on Monday. Stifel Nicolaus set a $81.00 price target on Lamb Weston and gave the company a “buy” rating in a report on Friday, October 25th. Barclays set a $83.00 price target on Lamb Weston and gave the company a “buy” rating in a report on Friday, November 1st. Finally, TheStreet raised Lamb Weston from a “c+” rating to a “b” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $75.71.
LW stock traded down $0.37 during midday trading on Tuesday, reaching $80.12. 881,479 shares of the company’s stock traded hands, compared to its average volume of 1,452,603. The company has a 50-day simple moving average of $76.13 and a two-hundred day simple moving average of $68.73. Lamb Weston Holdings Inc has a 1-year low of $58.83 and a 1-year high of $83.86. The company has a market cap of $11.66 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 2.98 and a beta of 0.18. The company has a quick ratio of 0.81, a current ratio of 1.68 and a debt-to-equity ratio of 23.94.
Lamb Weston (NYSE:LW) last released its quarterly earnings results on Wednesday, October 2nd. The specialty retailer reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. The firm had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $971.45 million. Lamb Weston had a negative return on equity of 1,426.55% and a net margin of 12.44%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. Equities research analysts forecast that Lamb Weston Holdings Inc will post 3.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.00%. Lamb Weston’s dividend payout ratio (DPR) is currently 24.84%.
Lamb Weston Company Profile
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
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