Millennium Management LLC reduced its position in Lamb Weston Holdings Inc (NYSE:LW) by 69.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 132,409 shares of the specialty retailer’s stock after selling 303,372 shares during the period. Millennium Management LLC owned about 0.09% of Lamb Weston worth $9,628,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its position in shares of Lamb Weston by 1.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 17,429 shares of the specialty retailer’s stock worth $1,104,000 after buying an additional 270 shares during the period. Creative Planning grew its holdings in shares of Lamb Weston by 0.8% during the 2nd quarter. Creative Planning now owns 37,509 shares of the specialty retailer’s stock worth $2,377,000 after purchasing an additional 292 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Lamb Weston by 2.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 636,917 shares of the specialty retailer’s stock worth $40,355,000 after purchasing an additional 12,760 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in Lamb Weston by 387.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 684,229 shares of the specialty retailer’s stock worth $43,353,000 after purchasing an additional 543,928 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Lamb Weston by 80.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,675 shares of the specialty retailer’s stock valued at $3,591,000 after buying an additional 25,234 shares during the period. 88.09% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. TheStreet raised shares of Lamb Weston from a “c+” rating to a “b” rating in a research report on Monday, October 28th. ValuEngine lowered Lamb Weston from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. Stifel Nicolaus set a $81.00 target price on shares of Lamb Weston and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Barclays set a $83.00 price target on shares of Lamb Weston and gave the stock a “buy” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $75.71.
In other news, VP Bernadette M. Madarieta sold 1,320 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $75.59, for a total transaction of $99,778.80. Following the transaction, the vice president now directly owns 14,777 shares of the company’s stock, valued at $1,116,993.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.82% of the company’s stock.
Shares of Lamb Weston stock traded up $1.63 during trading hours on Friday, reaching $85.83. The company’s stock had a trading volume of 2,257,194 shares, compared to its average volume of 938,880. The stock has a market cap of $12.30 billion, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 3.18 and a beta of 0.21. Lamb Weston Holdings Inc has a one year low of $58.83 and a one year high of $86.24. The company has a debt-to-equity ratio of 23.94, a quick ratio of 0.81 and a current ratio of 1.68. The company’s 50 day simple moving average is $82.41 and its 200 day simple moving average is $72.14.
Lamb Weston (NYSE:LW) last posted its earnings results on Wednesday, October 2nd. The specialty retailer reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Lamb Weston had a negative return on equity of 1,426.55% and a net margin of 12.44%. The company had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $971.45 million. During the same period last year, the business posted $0.73 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts predict that Lamb Weston Holdings Inc will post 3.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 1st were given a dividend of $0.20 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.80 dividend on an annualized basis and a yield of 0.93%. Lamb Weston’s dividend payout ratio (DPR) is presently 24.84%.
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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