First Manhattan Co. reduced its stake in shares of Lamb Weston Holdings Inc. (NYSE:LW) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,669 shares of the specialty retailer’s stock after selling 333 shares during the period. First Manhattan Co.’s holdings in Lamb Weston Holdings were worth $161,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP acquired a new position in shares of Lamb Weston Holdings during the fourth quarter valued at approximately $10,547,000. UBS Asset Management Americas Inc. acquired a new position in shares of Lamb Weston Holdings during the fourth quarter valued at approximately $3,628,000. Louisiana State Employees Retirement System increased its position in shares of Lamb Weston Holdings by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 35,000 shares of the specialty retailer’s stock valued at $1,472,000 after buying an additional 700 shares during the last quarter. Telemus Capital LLC acquired a new position in shares of Lamb Weston Holdings during the first quarter valued at approximately $2,976,000. Finally, NewSquare Capital LLC acquired a new position in shares of Lamb Weston Holdings during the first quarter valued at approximately $285,000. Institutional investors and hedge funds own 77.26% of the company’s stock.
Shares of Lamb Weston Holdings Inc. (NYSE LW) opened at 44.81 on Friday. Lamb Weston Holdings Inc. has a one year low of $29.62 and a one year high of $49.94. The stock has a 50 day moving average price of $44.09 and a 200 day moving average price of $42.64. The company has a market capitalization of $6.55 billion and a PE ratio of 20.18.
Lamb Weston Holdings (NYSE:LW) last issued its quarterly earnings results on Tuesday, July 25th. The specialty retailer reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. The company had revenue of $833 million during the quarter, compared to analysts’ expectations of $810.85 million. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 earnings per share. On average, equities research analysts predict that Lamb Weston Holdings Inc. will post $2.30 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Wednesday, August 2nd.
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Several equities analysts have recently commented on LW shares. Jefferies Group LLC restated a “buy” rating and issued a $50.00 price objective on shares of Lamb Weston Holdings in a research report on Tuesday, April 18th. Berenberg Bank started coverage on Lamb Weston Holdings in a research report on Tuesday, May 16th. They issued a “buy” rating and a $49.00 price objective on the stock. CL King started coverage on Lamb Weston Holdings in a research report on Tuesday, May 23rd. They issued a “strong-buy” rating and a $55.00 price objective on the stock. Zacks Investment Research downgraded Lamb Weston Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. Finally, Stifel Nicolaus downgraded Lamb Weston Holdings from a “buy” rating to a “hold” rating and boosted their price objective for the company from $42.00 to $44.00 in a research report on Tuesday, July 4th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $46.22.
About Lamb Weston Holdings
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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