Public Employees Retirement Association of Colorado lowered its holdings in shares of Lamb Weston Holdings Inc (NYSE:LW) by 1.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,595 shares of the specialty retailer’s stock after selling 273 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Lamb Weston were worth $1,858,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in Lamb Weston by 16.8% in the 3rd quarter. Signaturefd LLC now owns 934 shares of the specialty retailer’s stock worth $68,000 after purchasing an additional 134 shares during the period. Wetherby Asset Management Inc. boosted its stake in Lamb Weston by 3.2% in the 3rd quarter. Wetherby Asset Management Inc. now owns 4,576 shares of the specialty retailer’s stock worth $333,000 after purchasing an additional 144 shares during the period. 6 Meridian boosted its stake in Lamb Weston by 2.1% in the 4th quarter. 6 Meridian now owns 8,342 shares of the specialty retailer’s stock worth $718,000 after purchasing an additional 172 shares during the period. Summit Financial Wealth Advisors LLC boosted its stake in Lamb Weston by 1.7% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 12,922 shares of the specialty retailer’s stock worth $1,169,000 after purchasing an additional 216 shares during the period. Finally, Arizona State Retirement System boosted its stake in Lamb Weston by 0.8% in the 4th quarter. Arizona State Retirement System now owns 27,427 shares of the specialty retailer’s stock worth $2,360,000 after purchasing an additional 226 shares during the period. 87.90% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Robert Mcnutt sold 8,696 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $91.20, for a total transaction of $793,075.20. Following the sale, the chief financial officer now owns 59,111 shares in the company, valued at approximately $5,390,923.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William G. Jurgensen purchased 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were bought at an average price of $92.01 per share, for a total transaction of $1,656,180.00. The disclosure for this purchase can be found here. Insiders have sold a total of 23,668 shares of company stock worth $2,164,789 in the last 90 days. 0.82% of the stock is currently owned by insiders.
LW has been the topic of several recent research reports. TheStreet raised Lamb Weston from a “c+” rating to a “b” rating in a report on Monday, October 28th. Stifel Nicolaus cut Lamb Weston from a “buy” rating to a “hold” rating and upped their price objective for the stock from $81.00 to $92.00 in a report on Sunday, January 5th. Zacks Investment Research raised Lamb Weston from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Monday, December 23rd. Jefferies Financial Group initiated coverage on Lamb Weston in a report on Wednesday, January 22nd. They set a “hold” rating and a $96.00 price objective on the stock. Finally, Barclays set a $83.00 price objective on Lamb Weston and gave the stock a “buy” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Lamb Weston presently has an average rating of “Buy” and a consensus target price of $83.86.
Shares of LW traded up $0.35 during mid-day trading on Friday, hitting $95.44. 10,468 shares of the stock were exchanged, compared to its average volume of 1,069,958. The company has a market cap of $13.92 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 3.05 and a beta of 0.19. Lamb Weston Holdings Inc has a 52-week low of $58.83 and a 52-week high of $95.42. The firm has a 50-day moving average of $90.89 and a two-hundred day moving average of $79.57. The company has a debt-to-equity ratio of 10.96, a quick ratio of 0.70 and a current ratio of 1.65.
Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Friday, January 3rd. The specialty retailer reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $964.88 million. Lamb Weston had a return on equity of 869.30% and a net margin of 12.90%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. On average, sell-side analysts predict that Lamb Weston Holdings Inc will post 3.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, January 30th. This is a positive change from Lamb Weston’s previous quarterly dividend of $0.20. Lamb Weston’s dividend 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.
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