Cadence Capital Management LLC raised its stake in Lamb Weston Holdings Inc. (NYSE:LW) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 77,497 shares of the specialty retailer’s stock after buying an additional 59 shares during the period. Cadence Capital Management LLC owned approximately 0.05% of Lamb Weston Holdings worth $3,413,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LW. BlackRock Inc. boosted its position in Lamb Weston Holdings by 9,609.1% in the first quarter. BlackRock Inc. now owns 11,612,822 shares of the specialty retailer’s stock valued at $488,434,000 after buying an additional 11,493,214 shares during the last quarter. Ruffer LLP acquired a new position in Lamb Weston Holdings during the first quarter valued at about $106,030,000. Kensico Capital Management Corp acquired a new position in Lamb Weston Holdings during the first quarter valued at about $82,900,000. FMR LLC boosted its position in Lamb Weston Holdings by 126.3% in the first quarter. FMR LLC now owns 3,331,242 shares of the specialty retailer’s stock valued at $140,112,000 after buying an additional 1,859,263 shares during the last quarter. Finally, Blue Ridge Capital L.L.C. acquired a new position in Lamb Weston Holdings during the first quarter valued at about $75,708,000. 77.05% of the stock is owned by institutional investors.
Shares of Lamb Weston Holdings Inc. (NYSE:LW) traded up 0.04% on Monday, reaching $45.29. The company had a trading volume of 27,477 shares. Lamb Weston Holdings Inc. has a one year low of $28.75 and a one year high of $49.94. The company has a 50-day moving average price of $44.11 and a 200-day moving average price of $42.94. The firm has a market cap of $6.62 billion and a P/E ratio of 20.40.
Lamb Weston Holdings (NYSE:LW) last issued its quarterly earnings results on Tuesday, July 25th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. The company had revenue of $833 million for the quarter, compared to analyst estimates 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 company earned $0.29 EPS. On average, analysts expect that Lamb Weston Holdings Inc. will post $2.30 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, August 2nd.
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Several research analysts have recently issued reports on LW shares. Berenberg Bank started coverage on Lamb Weston Holdings in a research note on Tuesday, May 16th. They issued a “buy” rating and a $49.00 price target for the company. Zacks Investment Research cut Lamb Weston Holdings from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research note on Tuesday, June 6th. Jefferies Group LLC reissued a “buy” rating and issued a $50.00 price target on shares of Lamb Weston Holdings in a research note on Tuesday, May 9th. Bank of America Corporation increased their price target on Lamb Weston Holdings from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Finally, Stifel Nicolaus cut Lamb Weston Holdings from a “buy” rating to a “hold” rating and increased their price target for the stock from $42.00 to $44.00 in a research note on Tuesday, July 4th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $46.22.
Lamb Weston Holdings Company Profile
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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