Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Lamb Weston Holdings, Inc. (NYSE:LW - Free Report) by 5.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,045,582 shares of the specialty retailer's stock after buying an additional 114,049 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 1.42% of Lamb Weston worth $171,993,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. WFA Asset Management Corp boosted its position in shares of Lamb Weston by 248.6% during the 1st quarter. WFA Asset Management Corp now owns 244 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 174 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Lamb Weston during the 1st quarter valued at about $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Lamb Weston during the 1st quarter valued at about $32,000. Crewe Advisors LLC boosted its position in shares of Lamb Weston by 357.5% during the 2nd quarter. Crewe Advisors LLC now owns 334 shares of the specialty retailer's stock valued at $28,000 after acquiring an additional 261 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Lamb Weston by 135.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the specialty retailer's stock valued at $32,000 after acquiring an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 89.56% of the company's stock.
Lamb Weston Stock Down 0.3 %
Shares of LW traded down $0.17 during mid-day trading on Friday, hitting $65.44. 5,336,263 shares of the company's stock were exchanged, compared to its average volume of 2,493,935. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 5.96 and a beta of 0.75. Lamb Weston Holdings, Inc. has a fifty-two week low of $52.99 and a fifty-two week high of $111.88. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.59 and a current ratio of 1.29. The stock's 50-day moving average is $63.43 and its 200-day moving average is $79.78.
Lamb Weston (NYSE:LW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.24 by ($0.46). Lamb Weston had a return on equity of 44.06% and a net margin of 11.22%. The firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.71 billion. On average, sell-side analysts anticipate that Lamb Weston Holdings, Inc. will post 4.54 earnings per share for the current fiscal year.
Lamb Weston Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Friday, August 2nd. Lamb Weston's dividend payout ratio is presently 19.23%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Consumer Edge cut shares of Lamb Weston from an "overweight" rating to an "equal weight" rating in a research report on Friday, July 26th. TD Cowen cut shares of Lamb Weston from a "buy" rating to a "hold" rating and decreased their target price for the company from $105.00 to $61.00 in a research report on Thursday, July 25th. Wells Fargo & Company decreased their target price on shares of Lamb Weston from $98.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday, July 26th. Bank of America upped their target price on shares of Lamb Weston from $66.00 to $68.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Barclays decreased their target price on shares of Lamb Weston from $96.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $83.20.
Read Our Latest Stock Analysis on LW
Insider Buying and Selling at Lamb Weston
In other news, Director William G. Jurgensen acquired 10,000 shares of the company's stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $55.43 per share, with a total value of $554,300.00. Following the transaction, the director now owns 173,377 shares in the company, valued at approximately $9,610,287.11. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.66% of the company's stock.
Lamb Weston Profile
(Free Report)
Lamb Weston Holdings, Inc produces, distributes, and markets frozen potato products worldwide. The company operates through four segments: Global, Foodservice, Retail, and Other. It offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels.
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