Douglas Lane & Associates LLC grew its holdings in Lamb Weston Holdings, Inc. (NYSE:LW – Get Rating) by 37.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,669 shares of the specialty retailer's stock after acquiring an additional 78,116 shares during the period. Douglas Lane & Associates LLC owned about 0.20% of Lamb Weston worth $20,628,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Park Avenue Securities LLC boosted its holdings in shares of Lamb Weston by 19.3% in the 1st quarter. Park Avenue Securities LLC now owns 9,016 shares of the specialty retailer's stock valued at $540,000 after acquiring an additional 1,459 shares during the last quarter. Scott Capital Advisors LLC purchased a new stake in Lamb Weston during the second quarter worth $208,000. PNC Financial Services Group Inc. boosted its holdings in Lamb Weston by 25.4% during the first quarter. PNC Financial Services Group Inc. now owns 35,307 shares of the specialty retailer's stock worth $2,116,000 after buying an additional 7,145 shares in the last quarter. National Asset Management Inc. boosted its holdings in Lamb Weston by 176.0% during the first quarter. National Asset Management Inc. now owns 11,323 shares of the specialty retailer's stock worth $679,000 after buying an additional 7,221 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in Lamb Weston by 8.6% during the first quarter. D.A. Davidson & CO. now owns 28,815 shares of the specialty retailer's stock worth $1,726,000 after buying an additional 2,277 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.
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LW opened at $77.55 on Monday. The company has a quick ratio of 1.55, a current ratio of 2.37 and a debt-to-equity ratio of 7.48. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 56.61, a PEG ratio of 1.19 and a beta of 0.53. Lamb Weston Holdings, Inc. has a 52-week low of $49.71 and a 52-week high of $83.29. The firm's fifty day simple moving average is $79.13 and its two-hundred day simple moving average is $70.04.
Lamb Weston (NYSE:LW – Get Rating) last issued its earnings results on Wednesday, July 27th. The specialty retailer reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.14. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.07 billion. Lamb Weston had a net margin of 4.90% and a return on equity of 78.71%. Equities analysts anticipate that Lamb Weston Holdings, Inc. will post 2.79 earnings per share for the current fiscal year.Lamb Weston Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 5th were given a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Thursday, August 4th. Lamb Weston's dividend payout ratio (DPR) is 71.53%.
Wall Street Analyst Weigh In
Separately, TheStreet downgraded shares of Lamb Weston from a "b-" rating to a "c+" rating in a report on Wednesday, July 27th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Lamb Weston has an average rating of "Moderate Buy" and a consensus price target of $67.67.
Insider Activity
In other news, SVP Eryk J. Spytek sold 3,867 shares of the stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $75.00, for a total value of $290,025.00. Following the completion of the sale, the senior vice president now directly owns 37,955 shares in the company, valued at $2,846,625. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Gerardo Scheufler sold 2,786 shares of the firm's stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $81.01, for a total transaction of $225,693.86. Following the completion of the sale, the senior vice president now directly owns 29,685 shares in the company, valued at $2,404,781.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Eryk J. Spytek sold 3,867 shares of the firm's stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $75.00, for a total transaction of $290,025.00. Following the sale, the senior vice president now owns 37,955 shares of the company's stock, valued at $2,846,625. The disclosure for this sale can be found here. Insiders sold 9,654 shares of company stock worth $755,709 over the last three months. Insiders own 0.80% of the company's stock.
Lamb Weston Profile
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Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels.
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