Norges Bank acquired a new stake in Lamb Weston Holdings, Inc. (NYSE:LW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,447,496 shares of the specialty retailer's stock, valued at approximately $96,736,000. Norges Bank owned 1.01% of Lamb Weston at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of LW. West Oak Capital LLC boosted its position in shares of Lamb Weston by 155.7% in the fourth quarter. West Oak Capital LLC now owns 450 shares of the specialty retailer's stock valued at $30,000 after acquiring an additional 274 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Lamb Weston during the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Lamb Weston in the fourth quarter valued at approximately $36,000. Wingate Wealth Advisors Inc. bought a new position in Lamb Weston during the 4th quarter worth $47,000. Finally, Advantage Trust Co acquired a new position in Lamb Weston in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 89.56% of the company's stock.
Lamb Weston Price Performance
Shares of NYSE LW traded up $5.35 during midday trading on Thursday, reaching $59.50. 10,399,712 shares of the company were exchanged, compared to its average volume of 2,839,926. Lamb Weston Holdings, Inc. has a one year low of $47.90 and a one year high of $89.51. The stock has a market cap of $8.49 billion, a P/E ratio of 23.52, a PEG ratio of 1.40 and a beta of 0.48. The company has a quick ratio of 0.53, a current ratio of 1.35 and a debt-to-equity ratio of 2.26. The stock's 50-day moving average price is $55.27 and its 200-day moving average price is $65.65.
Lamb Weston (NYSE:LW - Get Free Report) last issued its quarterly earnings data on Thursday, April 3rd. The specialty retailer reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.23. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.50 billion. Lamb Weston had a return on equity of 27.82% and a net margin of 5.80%. Lamb Weston's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. On average, sell-side analysts anticipate that Lamb Weston Holdings, Inc. will post 3.1 earnings per share for the current fiscal year.
Lamb Weston Dividend Announcement
The firm 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 dividend of $0.37 per share. The ex-dividend date is Friday, May 2nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.49%. Lamb Weston's dividend payout ratio (DPR) is presently 58.50%.
Insider Buying and Selling
In related news, Director Robert A. Niblock acquired 3,000 shares of the business's stock in a transaction that occurred on Monday, January 13th. The shares were bought at an average cost of $60.94 per share, with a total value of $182,820.00. Following the completion of the purchase, the director now directly owns 26,406 shares in the company, valued at $1,609,181.64. The trade was a 12.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.72% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several analysts have recently issued reports on LW shares. Wells Fargo & Company reduced their target price on Lamb Weston from $72.00 to $66.00 and set an "overweight" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Lamb Weston from $68.00 to $78.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. Stifel Nicolaus dropped their target price on shares of Lamb Weston from $80.00 to $68.00 and set a "hold" rating for the company in a research report on Friday, December 20th. StockNews.com raised shares of Lamb Weston to a "sell" rating in a report on Monday, February 24th. Finally, Jefferies Financial Group increased their price target on shares of Lamb Weston from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $73.55.
Read Our Latest Research Report on LW
About Lamb Weston
(
Free Report)
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.
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