Rhumbline Advisers reduced its stake in Lamb Weston Holdings Inc (NYSE:LW) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 236,336 shares of the specialty retailer’s stock after selling 21,989 shares during the period. Rhumbline Advisers’ holdings in Lamb Weston were worth $17,711,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc boosted its position in Lamb Weston by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 13,940,423 shares of the specialty retailer’s stock valued at $928,433,000 after buying an additional 286,945 shares during the period. Millennium Management LLC boosted its position in Lamb Weston by 372.0% in the 4th quarter. Millennium Management LLC now owns 2,900,859 shares of the specialty retailer’s stock valued at $213,387,000 after buying an additional 2,286,275 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Lamb Weston by 4,768.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,807,491 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 2,749,828 shares during the period. Geode Capital Management LLC boosted its position in Lamb Weston by 57.9% in the 4th quarter. Geode Capital Management LLC now owns 2,152,534 shares of the specialty retailer’s stock valued at $158,094,000 after buying an additional 789,356 shares during the period. Finally, Two Sigma Advisers LP boosted its position in Lamb Weston by 91.0% in the 4th quarter. Two Sigma Advisers LP now owns 1,556,715 shares of the specialty retailer’s stock valued at $114,512,000 after buying an additional 741,800 shares during the period. Institutional investors own 82.90% of the company’s stock.
Several equities research analysts have recently commented on the stock. Jefferies Financial Group set a $85.00 price target on shares of Lamb Weston and gave the company a “buy” rating in a report on Wednesday, January 16th. Stifel Nicolaus upgraded shares of Lamb Weston from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Tuesday, January 22nd. Daiwa Capital Markets assumed coverage on shares of Lamb Weston in a report on Wednesday, February 27th. They issued an “outperform” rating for the company. Zacks Investment Research lowered shares of Lamb Weston from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Consumer Edge started coverage on shares of Lamb Weston in a research note on Friday, March 22nd. They set an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $78.83.
Lamb Weston (NYSE:LW) last released its quarterly earnings data on Tuesday, April 2nd. The specialty retailer reported $0.95 EPS for the quarter, beating the consensus estimate of $0.82 by $0.13. The business had revenue of $926.80 million for the quarter, compared to the consensus estimate of $898.46 million. Lamb Weston had a net margin of 12.47% and a negative return on equity of 230.44%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. Equities research analysts expect that Lamb Weston Holdings Inc will post 3.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, May 2nd. Lamb Weston’s dividend payout ratio (DPR) is presently 30.08%.
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About Lamb Weston
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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