Brown Brothers Harriman & Co. Acquires 3,468 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Brown Brothers Harriman & Co. grew its stake in Lamb Weston Holdings, Inc. (NYSE:LW) by 93.0% during the third quarter, HoldingsChannel.com reports. The firm owned 7,199 shares of the specialty retailer’s stock after buying an additional 3,468 shares during the period. Brown Brothers Harriman & Co.’s holdings in Lamb Weston were worth $466,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LW. City State Bank grew its holdings in Lamb Weston by 56.2% during the third quarter. City State Bank now owns 417 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 150 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in shares of Lamb Weston by 0.8% during the third quarter. Kornitzer Capital Management Inc. KS now owns 18,756 shares of the specialty retailer’s stock worth $1,214,000 after purchasing an additional 156 shares in the last quarter. Bridges Investment Management Inc. grew its holdings in shares of Lamb Weston by 2.8% in the 3rd quarter. Bridges Investment Management Inc. now owns 6,648 shares of the specialty retailer’s stock valued at $430,000 after buying an additional 181 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Lamb Weston by 1.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,382 shares of the specialty retailer’s stock valued at $1,125,000 after buying an additional 188 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in Lamb Weston by 4.6% during the 3rd quarter. Fulton Bank N.A. now owns 4,592 shares of the specialty retailer’s stock worth $297,000 after buying an additional 201 shares during the period. 89.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LW has been the subject of a number of research analyst reports. Bank of America boosted their target price on Lamb Weston from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Barclays boosted their price objective on Lamb Weston from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. TD Cowen raised their target price on shares of Lamb Weston from $61.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, September 24th. Stifel Nicolaus upped their price target on shares of Lamb Weston from $65.00 to $80.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company raised their price objective on shares of Lamb Weston from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $82.22.

Lamb Weston Stock Performance

Shares of LW stock opened at $76.83 on Wednesday. Lamb Weston Holdings, Inc. has a 12 month low of $52.99 and a 12 month high of $111.88. The company’s fifty day simple moving average is $73.35 and its 200-day simple moving average is $73.82. The firm has a market cap of $10.96 billion, a PE ratio of 18.04, a P/E/G ratio of 1.38 and a beta of 0.72. The company has a quick ratio of 0.54, a current ratio of 1.19 and a debt-to-equity ratio of 1.87.

Lamb Weston (NYSE:LW) last issued its quarterly earnings results on Tuesday, October 1st. The specialty retailer reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Lamb Weston had a net margin of 9.57% and a return on equity of 34.33%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 EPS. Equities research analysts expect that Lamb Weston Holdings, Inc. will post 4.26 EPS for the current fiscal year.

Lamb Weston Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 1st will be given a dividend of $0.36 per share. The ex-dividend date is Friday, November 1st. This represents a $1.44 annualized dividend and a yield of 1.87%. Lamb Weston’s dividend payout ratio (DPR) is presently 33.80%.

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.