Old Mutual Global Investors UK Ltd. decreased its holdings in Lamb Weston Holdings Inc. (NYSE:LW) by 83.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,087 shares of the specialty retailer’s stock after selling 98,910 shares during the quarter. Old Mutual Global Investors UK Ltd.’s holdings in Lamb Weston Holdings were worth $884,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Lamb Weston Holdings by 9,609.1% during the 1st quarter. BlackRock Inc. now owns 11,612,822 shares of the specialty retailer’s stock valued at $488,434,000 after purchasing an additional 11,493,214 shares during the last quarter. FMR LLC increased its position in shares of Lamb Weston Holdings by 126.3% during the 1st quarter. FMR LLC now owns 3,331,242 shares of the specialty retailer’s stock valued at $140,112,000 after purchasing an additional 1,859,263 shares during the last quarter. Ruffer LLP purchased a new stake in shares of Lamb Weston Holdings during the 1st quarter valued at about $106,030,000. Kensico Capital Management Corp purchased a new stake in shares of Lamb Weston Holdings during the 1st quarter valued at about $82,900,000. Finally, Blue Ridge Capital L.L.C. purchased a new stake in shares of Lamb Weston Holdings during the 1st quarter valued at about $75,708,000. 79.78% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Morgan Stanley reiterated an “equal weight” rating and set a $46.00 price objective (up from $45.00) on shares of Lamb Weston Holdings in a research note on Wednesday, July 26th. Bank of America Corporation boosted their price objective on Lamb Weston Holdings from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Stifel Nicolaus downgraded Lamb Weston Holdings from a “buy” rating to a “hold” rating and boosted their price objective for the company from $42.00 to $44.00 in a research note on Tuesday, July 4th. Finally, CL King started coverage on Lamb Weston Holdings in a research note on Tuesday, May 23rd. They set a “strong-buy” rating and a $55.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $46.22.
Lamb Weston Holdings Inc. (LW) opened at 45.44 on Friday. The firm has a 50-day moving average price of $44.77 and a 200 day moving average price of $43.57. Lamb Weston Holdings Inc. has a 1-year low of $29.62 and a 1-year high of $49.94. The company has a market capitalization of $6.64 billion and a P/E ratio of 20.47.
Lamb Weston Holdings (NYSE:LW) last posted its quarterly earnings data on Tuesday, July 25th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $833 million for the quarter, compared to analysts’ expectations of $810.85 million. During the same quarter last year, the business posted $0.29 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts predict that Lamb Weston Holdings Inc. will post $2.30 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were issued a dividend of $0.1875 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $0.75 dividend on an annualized basis and a yield of 1.65%.
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Lamb Weston Holdings Company Profile
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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