New York State Teachers Retirement System reduced its stake in shares of Lamb Weston Holdings Inc (NYSE:LW) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,123 shares of the specialty retailer’s stock after selling 9,768 shares during the period. New York State Teachers Retirement System’s holdings in Lamb Weston were worth $15,214,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in LW. Gradient Investments LLC purchased a new position in shares of Lamb Weston during the 2nd quarter worth about $32,000. Old North State Trust LLC lifted its holdings in shares of Lamb Weston by 175.2% during the 1st quarter. Old North State Trust LLC now owns 589 shares of the specialty retailer’s stock worth $44,000 after acquiring an additional 375 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Lamb Weston by 385.9% during the 1st quarter. Quadrant Capital Group LLC now owns 962 shares of the specialty retailer’s stock worth $69,000 after acquiring an additional 764 shares during the period. Farmers & Merchants Investments Inc. lifted its holdings in shares of Lamb Weston by 15.3% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 1,491 shares of the specialty retailer’s stock worth $112,000 after acquiring an additional 198 shares during the period. Finally, Private Capital Group LLC lifted its holdings in shares of Lamb Weston by 32.3% during the 1st quarter. Private Capital Group LLC now owns 1,880 shares of the specialty retailer’s stock worth $141,000 after acquiring an additional 459 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.
Several research analysts have recently weighed in on LW shares. Bank of America reiterated a “buy” rating and set a $85.00 price objective (up from $78.00) on shares of Everbridge in a report on Tuesday, May 7th. Stifel Nicolaus increased their price objective on shares of Rapid7 from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Goldman Sachs Group reiterated a “buy” rating and set a $21.50 price objective on shares of Infineon Technologies in a report on Wednesday, June 19th. JPMorgan Chase & Co. cut their price objective on shares of from GBX 97 ($1.27) to GBX 89 ($1.16) and set a “neutral” rating on the stock in a report on Monday, June 17th. Finally, Zacks Investment Research lowered shares of Green Plains Partners from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $75.71.
Lamb Weston (NYSE:LW) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $972.49 million. Lamb Weston had a net margin of 12.48% and a negative return on equity of 402.03%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. On average, equities analysts predict that Lamb Weston Holdings Inc will post 3.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, August 1st. Lamb Weston’s dividend payout ratio (DPR) is presently 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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