Trexquant Investment LP raised its holdings in Lamb Weston Holdings Inc (NYSE:LW) by 1,525.3% in the 3rd quarter, Holdings Channel reports. The firm owned 49,099 shares of the specialty retailer’s stock after purchasing an additional 46,078 shares during the quarter. Trexquant Investment LP’s holdings in Lamb Weston were worth $3,270,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of LW. Macquarie Group Ltd. bought a new position in Lamb Weston in the 2nd quarter valued at $54,064,000. Jennison Associates LLC bought a new position in Lamb Weston in the 3rd quarter valued at $26,306,000. Canada Pension Plan Investment Board raised its position in Lamb Weston by 223.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 492,810 shares of the specialty retailer’s stock valued at $33,762,000 after purchasing an additional 340,600 shares during the last quarter. BlackRock Inc. raised its position in Lamb Weston by 2.4% in the 2nd quarter. BlackRock Inc. now owns 13,875,099 shares of the specialty retailer’s stock valued at $950,584,000 after purchasing an additional 328,259 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Lamb Weston by 41.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 738,306 shares of the specialty retailer’s stock valued at $50,582,000 after purchasing an additional 214,588 shares during the last quarter. Hedge funds and other institutional investors own 78.77% of the company’s stock.
A number of equities research analysts have recently weighed in on LW shares. Jefferies Financial Group restated a “buy” rating and set a $80.00 target price on shares of Lamb Weston in a research report on Tuesday, October 2nd. CL King downgraded Lamb Weston from a “buy” rating to a “neutral” rating in a research report on Thursday, October 25th. ValuEngine downgraded Lamb Weston from a “buy” rating to a “hold” rating in a research report on Wednesday, August 22nd. Zacks Investment Research downgraded Lamb Weston from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Finally, Bank of America downgraded Lamb Weston from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $75.00 to $85.00 in a research report on Thursday, November 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Lamb Weston has an average rating of “Hold” and a consensus target price of $74.50.
Lamb Weston (NYSE:LW) last released its 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 company 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 firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, research analysts forecast that Lamb Weston Holdings Inc will post 2.99 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 2nd will be given a dividend of $0.191 per share. The ex-dividend date is Thursday, November 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.94%. Lamb Weston’s payout ratio is currently 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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