Envestnet Asset Management Inc. Purchases 290,901 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Envestnet Asset Management Inc. increased its holdings in shares of Lamb Weston Holdings, Inc. (NYSE:LW - Free Report) by 97.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 588,027 shares of the specialty retailer's stock after purchasing an additional 290,901 shares during the period. Envestnet Asset Management Inc. owned approximately 0.41% of Lamb Weston worth $39,298,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. bought a new stake in Lamb Weston in the 4th quarter valued at about $2,859,000. Provident Investment Management Inc. increased its holdings in shares of Lamb Weston by 2,535.7% during the fourth quarter. Provident Investment Management Inc. now owns 293,086 shares of the specialty retailer's stock valued at $19,587,000 after acquiring an additional 281,966 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Lamb Weston by 0.5% in the 4th quarter. Huntington National Bank now owns 69,193 shares of the specialty retailer's stock worth $4,624,000 after purchasing an additional 329 shares in the last quarter. Groupama Asset Managment increased its stake in Lamb Weston by 20.9% during the 4th quarter. Groupama Asset Managment now owns 11,950 shares of the specialty retailer's stock valued at $776,000 after purchasing an additional 2,066 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Lamb Weston by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 3,436,604 shares of the specialty retailer's stock worth $229,065,000 after acquiring an additional 48,548 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

LW has been the subject of a number of analyst reports. Barclays cut their price target on Lamb Weston from $87.00 to $69.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $57.00 price objective on shares of Lamb Weston in a report on Wednesday, March 19th. Wells Fargo & Company reduced their price objective 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. StockNews.com upgraded Lamb Weston to a "sell" rating in a research note on Monday, February 24th. Finally, Citigroup lowered Lamb Weston from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $90.00 to $68.00 in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $71.27.

Lamb Weston Stock Performance

Shares of NYSE LW traded down $1.37 during midday trading on Tuesday, hitting $54.61. The company's stock had a trading volume of 1,439,438 shares, compared to its average volume of 2,691,964. The stock has a fifty day moving average price of $54.27 and a 200 day moving average price of $64.95. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 1.40 and a beta of 0.48. Lamb Weston Holdings, Inc. has a one year low of $47.90 and a one year high of $89.51. The company has a current ratio of 1.35, a quick ratio of 0.53 and a debt-to-equity ratio of 2.26.

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

Lamb Weston Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 2nd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, May 2nd. Lamb Weston's payout ratio is 58.04%.

Lamb Weston Profile

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.