Y Intercept Hong Kong Ltd Acquires 39,304 Shares of Lamb Weston $LW

Y Intercept Hong Kong Ltd increased its holdings in shares of Lamb Weston (NYSE:LW) by 300.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 52,390 shares of the specialty retailer’s stock after acquiring an additional 39,304 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Lamb Weston were worth $3,043,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its holdings in Lamb Weston by 1.1% during the 2nd quarter. State Street Corp now owns 5,801,585 shares of the specialty retailer’s stock valued at $300,812,000 after buying an additional 63,865 shares in the last quarter. Norges Bank bought a new stake in Lamb Weston during the 2nd quarter valued at $119,413,000. Ion Asset Management Ltd. bought a new stake in Lamb Weston during the second quarter valued at about $84,379,000. Douglas Lane & Associates LLC grew its position in shares of Lamb Weston by 19.9% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,279,345 shares of the specialty retailer’s stock worth $74,304,000 after buying an additional 212,504 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its holdings in Lamb Weston by 3.9% in the second quarter. BROOKFIELD Corp ON now owns 1,056,266 shares of the specialty retailer’s stock worth $54,767,000 after purchasing an additional 40,000 shares during the last quarter. Institutional investors own 89.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LW. JPMorgan Chase & Co. lowered their price target on Lamb Weston from $62.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, December 22nd. Stifel Nicolaus decreased their target price on shares of Lamb Weston from $63.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, December 22nd. Wells Fargo & Company lowered their price target on Lamb Weston from $68.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 23rd. Zacks Research downgraded shares of Lamb Weston from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Finally, Bank of America decreased their target price on Lamb Weston from $66.00 to $53.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $53.00.

Lamb Weston Stock Down 0.4%

Shares of NYSE:LW opened at $43.56 on Tuesday. The business has a 50-day moving average price of $50.00 and a 200 day moving average price of $55.12. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 6.68 and a beta of 0.45. Lamb Weston has a 12-month low of $39.79 and a 12-month high of $67.07. The company has a current ratio of 1.43, a quick ratio of 0.64 and a debt-to-equity ratio of 2.08.

Lamb Weston (NYSE:LW) last posted its quarterly earnings data on Friday, December 19th. The specialty retailer reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Lamb Weston had a net margin of 6.06% and a return on equity of 27.71%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. Sell-side analysts expect that Lamb Weston will post 3.1 EPS for the current year.

Lamb Weston Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 30th will be issued a $0.38 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. This is a boost from Lamb Weston’s previous quarterly dividend of $0.37. Lamb Weston’s dividend payout ratio (DPR) is presently 53.24%.

Lamb Weston Company Profile

Lamb Weston, traded on the NYSE under the symbol LW, is a leading global processor and supplier of frozen potato products. The company’s portfolio includes a variety of potato-based items such as French fries, potato wedges, hash browns and specialty cuts tailored to the foodservice and retail grocery channels. Lamb Weston serves quick-service restaurants, full-service operators, grocery chains and food distributors, offering customized product formats, packaging solutions and seasoning options to meet evolving customer demands.

Founded in 1950 and headquartered in Eagle, Idaho, Lamb Weston has grown from a regional processor into one of the world’s largest producers of frozen potato products.