Tyers Asset Management LLC raised its position in Lamb Weston Holdings Inc (NYSE:LW) by 102.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 22,616 shares of the specialty retailer’s stock after purchasing an additional 11,440 shares during the period. Tyers Asset Management LLC’s holdings in Lamb Weston were worth $1,433,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the business. Kavar Capital Partners LLC acquired a new position in Lamb Weston in the second quarter worth about $25,000. TRUE Private Wealth Advisors acquired a new stake in Lamb Weston during the second quarter valued at approximately $28,000. Gradient Investments LLC bought a new stake in shares of Lamb Weston in the 2nd quarter valued at approximately $32,000. Coastal Investment Advisors Inc. grew its stake in shares of Lamb Weston by 4,046.2% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 539 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 526 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in shares of Lamb Weston in the 2nd quarter worth approximately $41,000. 87.75% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently commented on LW. Zacks Investment Research raised Lamb Weston from a “strong sell” rating to a “hold” rating and set a $55.00 price target on the stock in a research note on Friday, July 26th. Goldman Sachs Group upgraded Lamb Weston from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Wednesday, June 19th. Finally, JPMorgan Chase & Co. initiated coverage on Lamb Weston in a report on Monday, June 17th. They set a “neutral” rating and a $65.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $75.71.
Lamb Weston (NYSE:LW) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. Lamb Weston had a net margin of 12.48% and a negative return on equity of 402.03%. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $972.49 million. During the same quarter last year, the company posted $0.65 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that Lamb Weston Holdings Inc will post 3.45 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, August 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. Lamb Weston’s dividend payout ratio (DPR) is currently 24.84%.
Lamb Weston Profile
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.
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