Provident Investment Management Inc. Purchases 281,966 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Provident Investment Management Inc. grew its position in Lamb Weston Holdings, Inc. (NYSE:LW - Free Report) by 2,535.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 293,086 shares of the specialty retailer's stock after buying an additional 281,966 shares during the period. Lamb Weston makes up 1.9% of Provident Investment Management Inc.'s portfolio, making the stock its 20th largest position. Provident Investment Management Inc. owned approximately 0.21% of Lamb Weston worth $19,587,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Lamb Weston in the fourth quarter worth $96,736,000. Boston Partners increased its stake in Lamb Weston by 26.8% in the 4th quarter. Boston Partners now owns 3,477,165 shares of the specialty retailer's stock valued at $232,330,000 after buying an additional 735,901 shares during the last quarter. State Street Corp lifted its position in Lamb Weston by 9.7% during the 3rd quarter. State Street Corp now owns 6,221,665 shares of the specialty retailer's stock worth $402,791,000 after buying an additional 549,812 shares in the last quarter. Liberty One Investment Management LLC boosted its stake in shares of Lamb Weston by 697.4% during the 4th quarter. Liberty One Investment Management LLC now owns 350,268 shares of the specialty retailer's stock worth $23,408,000 after buying an additional 306,343 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Lamb Weston in the 3rd quarter valued at about $19,822,000. Institutional investors own 89.56% of the company's stock.

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Analyst Upgrades and Downgrades

LW has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Lamb Weston from $68.00 to $78.00 and gave the company a "neutral" rating in a research report on Monday, December 16th. Jefferies Financial Group raised their target price on shares of Lamb Weston from $80.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Wells Fargo & Company dropped their price target on Lamb Weston from $72.00 to $66.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Barclays lowered their price objective on Lamb Weston from $87.00 to $69.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. Finally, Stifel Nicolaus reduced their target price on shares of Lamb Weston from $68.00 to $63.00 and set a "hold" rating for the company in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $73.09.

Lamb Weston Stock Up 0.2 %

Shares of Lamb Weston stock traded up $0.12 during trading on Wednesday, reaching $52.60. 474,649 shares of the company traded hands, compared to its average volume of 2,724,036. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.35 and a quick ratio of 0.53. The firm has a market capitalization of $7.50 billion, a PE ratio of 20.73, a P/E/G ratio of 1.40 and a beta of 0.48. The company has a 50 day moving average price of $54.77 and a 200-day moving average price of $65.32. Lamb Weston Holdings, Inc. has a 1-year low of $47.90 and a 1-year high of $89.51.

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

Lamb Weston Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $1.48 annualized dividend and a dividend yield of 2.81%. Lamb Weston's payout ratio is currently 58.04%.

Insider Buying and Selling at Lamb Weston

In related news, Director Robert A. Niblock purchased 3,000 shares of Lamb Weston stock in a transaction dated Monday, January 13th. The stock was bought at an average cost of $60.94 per share, for a total transaction of $182,820.00. Following the completion of the transaction, the director now owns 26,406 shares in the company, valued at $1,609,181.64. This trade represents a 12.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.72% of the company's stock.

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.