Geode Capital Management LLC increased its position in shares of Lamb Weston Holdings, Inc. (NYSE:LW - Free Report) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,388,056 shares of the specialty retailer's stock after purchasing an additional 24,097 shares during the period. Geode Capital Management LLC owned 2.38% of Lamb Weston worth $218,598,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. City State Bank grew its holdings in Lamb Weston by 56.2% during the 3rd quarter. City State Bank now owns 417 shares of the specialty retailer's stock valued at $27,000 after buying an additional 150 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in shares of Lamb Weston by 0.8% during the third quarter. Kornitzer Capital Management Inc. KS now owns 18,756 shares of the specialty retailer's stock worth $1,214,000 after acquiring an additional 156 shares during the last quarter. Bridges Investment Management Inc. grew its stake in Lamb Weston by 2.8% during the third quarter. Bridges Investment Management Inc. now owns 6,648 shares of the specialty retailer's stock valued at $430,000 after acquiring an additional 181 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Lamb Weston by 1.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,382 shares of the specialty retailer's stock valued at $1,125,000 after acquiring an additional 188 shares during the last quarter. Finally, Fulton Bank N.A. increased its holdings in Lamb Weston by 4.6% in the 3rd quarter. Fulton Bank N.A. now owns 4,592 shares of the specialty retailer's stock valued at $297,000 after acquiring an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 89.56% of the company's stock.
LW has been the subject of a number of research analyst reports. Bank of America raised their price objective on Lamb Weston from $68.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Wells Fargo & Company lifted their price objective on Lamb Weston from $70.00 to $77.00 and gave the stock an "overweight" rating in a research note on Thursday, October 3rd. Barclays raised their target price on shares of Lamb Weston from $70.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, October 4th. Stifel Nicolaus upped their price target on shares of Lamb Weston from $65.00 to $80.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Finally, Sanford C. Bernstein assumed coverage on shares of Lamb Weston in a research report on Tuesday, December 3rd. They set a "market perform" rating and a $85.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $82.36.
View Our Latest Stock Report on LW
Lamb Weston stock opened at $79.27 on Friday. Lamb Weston Holdings, Inc. has a 12-month low of $52.99 and a 12-month high of $111.88. The company has a current ratio of 1.19, a quick ratio of 0.54 and a debt-to-equity ratio of 1.87. The firm has a 50-day moving average price of $76.48 and a 200-day moving average price of $72.94. The firm has a market capitalization of $11.30 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.34 and a beta of 0.70.
Lamb Weston (NYSE:LW - Get Free Report) last announced its earnings results on Tuesday, October 1st. The specialty retailer reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Lamb Weston had a return on equity of 34.33% and a net margin of 9.57%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that Lamb Weston Holdings, Inc. will post 4.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 1st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.82%. Lamb Weston's dividend payout ratio (DPR) is 33.80%.
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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