Procyon Advisors LLC Trims Stock Position in Lamb Weston Holdings, Inc. (NYSE:LW)

Procyon Advisors LLC lessened its stake in shares of Lamb Weston Holdings, Inc. (NYSE:LW) by 22.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,420 shares of the specialty retailer’s stock after selling 2,139 shares during the quarter. Procyon Advisors LLC’s holdings in Lamb Weston were worth $802,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LW. Clear Street Markets LLC increased its stake in Lamb Weston by 92.5% in the 1st quarter. Clear Street Markets LLC now owns 283 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 136 shares during the period. VisionPoint Advisory Group LLC grew its stake in shares of Lamb Weston by 113.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 303 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 161 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Lamb Weston during the 2nd quarter worth $29,000. ICA Group Wealth Management LLC acquired a new position in shares of Lamb Weston during the 4th quarter worth $39,000. Finally, West Tower Group LLC acquired a new position in shares of Lamb Weston during the 2nd quarter worth $54,000. 89.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LW has been the topic of a number of recent analyst reports. BNP Paribas initiated coverage on shares of Lamb Weston in a research report on Monday, March 11th. They issued an “outperform” rating and a $128.00 price objective on the stock. Wells Fargo & Company began coverage on shares of Lamb Weston in a report on Tuesday, December 12th. They issued an “overweight” rating and a $120.00 target price on the stock. StockNews.com lowered shares of Lamb Weston from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Citigroup started coverage on shares of Lamb Weston in a report on Thursday, February 1st. They set a “buy” rating and a $132.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on shares of Lamb Weston from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.20.

Lamb Weston Stock Performance

LW stock traded up $0.65 during mid-day trading on Thursday, reaching $106.95. The company had a trading volume of 117,836 shares, compared to its average volume of 1,561,074. The company has a quick ratio of 0.57, a current ratio of 1.29 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $15.44 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.19 and a beta of 0.72. Lamb Weston Holdings, Inc. has a one year low of $81.25 and a one year high of $117.38. The stock’s 50-day simple moving average is $103.31 and its two-hundred day simple moving average is $99.79.

Lamb Weston (NYSE:LW) last issued its quarterly earnings results on Thursday, January 4th. The specialty retailer reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.03. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. Lamb Weston had a return on equity of 63.19% and a net margin of 17.71%. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company earned $1.28 earnings per share. Research analysts anticipate that Lamb Weston Holdings, Inc. will post 5.97 EPS for the current year.

Lamb Weston Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $1.44 dividend on an annualized basis and a yield of 1.35%. Lamb Weston’s dividend payout ratio is currently 18.73%.

Lamb Weston Company Profile

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.