IndexIQ Advisors LLC bought a new position in Lamb Weston Holdings Inc. (NYSE:LW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,374 shares of the specialty retailer’s stock, valued at approximately $149,000.
A number of other hedge funds and other institutional investors have also modified their holdings of LW. BlackRock Inc. raised its holdings in Lamb Weston Holdings by 9,609.1% in the 1st 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 bought a new position in Lamb Weston Holdings during the 1st quarter worth approximately $106,030,000. Kensico Capital Management Corp bought a new position in Lamb Weston Holdings during the 1st quarter worth approximately $82,900,000. FMR LLC raised its holdings in Lamb Weston Holdings by 126.3% during the 1st quarter. FMR LLC now owns 3,331,242 shares of the specialty retailer’s stock worth $140,112,000 after purchasing an additional 1,859,263 shares during the last quarter. Finally, Blue Ridge Capital L.L.C. bought a new position in Lamb Weston Holdings during the 1st quarter worth approximately $75,708,000. Institutional investors and hedge funds own 79.78% of the company’s stock.
Shares of Lamb Weston Holdings Inc. (LW) opened at 46.09 on Friday. Lamb Weston Holdings Inc. has a 52 week low of $29.62 and a 52 week high of $49.94. The company has a 50-day moving average price of $44.90 and a 200-day moving average price of $43.76. The company has a market capitalization of $6.73 billion and a PE ratio of 20.76.
Lamb Weston Holdings (NYSE:LW) last announced its earnings results on Tuesday, July 25th. The specialty retailer reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $833.00 million for the quarter, compared to analyst estimates of $810.85 million. During the same period in the previous year, the company earned $0.29 EPS. Lamb Weston Holdings’s revenue was up 7.2% compared to the same quarter last year. Analysts predict that Lamb Weston Holdings Inc. will post $2.30 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were issued a dividend of $0.1875 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.63%.
LW has been the subject of several analyst reports. CL King initiated coverage on shares of Lamb Weston Holdings in a report on Tuesday, May 23rd. They set a “strong-buy” rating and a $55.00 price target for the company. Zacks Investment Research raised shares of Lamb Weston Holdings from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Friday, May 26th. Bank of America Corporation raised their price objective on shares of Lamb Weston Holdings from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Jefferies Group LLC reissued a “buy” rating and issued a $53.00 price target (up previously from $50.00) on shares of Lamb Weston Holdings in a research report on Friday, May 19th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $46.00 price target (up previously from $45.00) on shares of Lamb Weston Holdings in a research report on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus 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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