Assenagon Asset Management S.A. cut its stake in Lamb Weston Holdings Inc (NYSE:LW) by 52.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,987 shares of the specialty retailer’s stock after selling 138,389 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Lamb Weston were worth $8,391,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in LW. Rothschild Asset Management Inc. grew its position in shares of Lamb Weston by 4.8% in the 2nd quarter. Rothschild Asset Management Inc. now owns 413,922 shares of the specialty retailer’s stock valued at $28,358,000 after purchasing an additional 19,102 shares during the period. Canada Pension Plan Investment Board boosted its position in Lamb Weston by 223.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 492,810 shares of the specialty retailer’s stock worth $33,762,000 after acquiring an additional 340,600 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Lamb Weston by 117.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 88,409 shares of the specialty retailer’s stock worth $6,061,000 after acquiring an additional 47,737 shares during the last quarter. Sei Investments Co. boosted its position in Lamb Weston by 16.0% during the 2nd quarter. Sei Investments Co. now owns 309,836 shares of the specialty retailer’s stock worth $21,228,000 after acquiring an additional 42,721 shares during the last quarter. Finally, Fort L.P. acquired a new position in Lamb Weston during the 2nd quarter worth approximately $124,000. 79.97% of the stock is owned by institutional investors.
A number of research firms have weighed in on LW. Zacks Investment Research raised Lamb Weston from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Wednesday, October 24th. CL King downgraded Lamb Weston from a “buy” rating to a “neutral” rating in a research report on Thursday, October 25th. ValuEngine raised Lamb Weston from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Stifel Nicolaus upped their price target on Lamb Weston from $68.00 to $74.00 and gave the stock a “hold” rating in a research report on Wednesday, October 3rd. Finally, Jefferies Financial Group upped their price target on Lamb Weston from $71.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $72.00.
Lamb Weston (NYSE:LW) last released its quarterly earnings results on Tuesday, October 2nd. The specialty retailer reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. The firm had revenue of $914.90 million during the quarter, compared to the consensus estimate of $879.68 million. Lamb Weston had a negative return on equity of 110.81% and a net margin of 12.52%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 EPS. Sell-side analysts expect that Lamb Weston Holdings Inc will post 2.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 2nd will be issued a $0.191 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, November 1st. Lamb Weston’s payout ratio is presently 28.57%.
About Lamb Weston
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
Featured Article: What is the Dividend Aristocrat Index?
Want to see what other hedge funds are holding LW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lamb Weston Holdings Inc (NYSE:LW).
Receive News & Ratings for Lamb Weston Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamb Weston and related companies with MarketBeat.com's FREE daily email newsletter.