Shell Asset Management Co. Cuts Holdings in Lamb Weston Holdings, Inc. (NYSE:LW)

Shell Asset Management Co. reduced its position in Lamb Weston Holdings, Inc. (NYSE:LW) by 37.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 6,714 shares of the specialty retailer’s stock after selling 4,072 shares during the period. Shell Asset Management Co.’s holdings in Lamb Weston were worth $715,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in Lamb Weston during the fourth quarter worth $93,553,000. Artemis Investment Management LLP increased its position in Lamb Weston by 117.2% during the first quarter. Artemis Investment Management LLP now owns 1,230,538 shares of the specialty retailer’s stock worth $131,035,000 after buying an additional 663,985 shares in the last quarter. APG Asset Management US Inc. acquired a new stake in shares of Lamb Weston during the fourth quarter worth $56,699,000. Montrusco Bolton Investments Inc. boosted its holdings in shares of Lamb Weston by 104.7% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 713,414 shares of the specialty retailer’s stock worth $77,113,000 after purchasing an additional 364,851 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Lamb Weston by 97.8% during the fourth quarter. Jennison Associates LLC now owns 498,903 shares of the specialty retailer’s stock worth $53,926,000 after purchasing an additional 246,622 shares during the last quarter. 89.56% of the stock is owned by hedge funds and other institutional investors.

Lamb Weston Stock Up 7.0 %

Shares of LW stock opened at $56.71 on Friday. The stock’s 50 day simple moving average is $82.11 and its 200 day simple moving average is $91.68. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.52 and a current ratio of 1.29. Lamb Weston Holdings, Inc. has a twelve month low of $52.99 and a twelve month high of $111.88. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 1.15 and a beta of 0.74.

Lamb Weston Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 2nd will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, August 2nd. Lamb Weston’s dividend payout ratio is currently 19.23%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Barclays reduced their target price on Lamb Weston from $96.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday. Consumer Edge cut Lamb Weston from an “overweight” rating to an “equal weight” rating in a report on Friday. TD Cowen cut Lamb Weston from a “buy” rating to a “hold” rating and reduced their target price for the company from $105.00 to $61.00 in a report on Thursday. JPMorgan Chase & Co. reduced their target price on Lamb Weston from $108.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus cut Lamb Weston from a “buy” rating to a “hold” rating and reduced their target price for the company from $115.00 to $60.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Lamb Weston currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.70.

About Lamb Weston

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.