Wesbanco Bank Inc. bought a new position in shares of Lamb Weston Holdings, Inc. (NYSE:LW – Get Rating) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 4,141 shares of the specialty retailer's stock, valued at approximately $296,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Tcwp LLC acquired a new stake in shares of Lamb Weston in the 1st quarter worth approximately $25,000. MCF Advisors LLC acquired a new stake in shares of Lamb Weston in the 1st quarter worth approximately $27,000. Engine Capital Management LP acquired a new stake in shares of Lamb Weston in the 4th quarter worth approximately $32,000. First Horizon Advisors Inc. grew its holdings in shares of Lamb Weston by 346.2% in the 1st quarter. First Horizon Advisors Inc. now owns 531 shares of the specialty retailer's stock worth $32,000 after acquiring an additional 412 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Lamb Weston by 330.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 628 shares of the specialty retailer's stock worth $37,000 after acquiring an additional 482 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.
Get Lamb Weston alerts:Insider Activity at Lamb Weston
In other Lamb Weston news, SVP Gerardo Scheufler sold 2,786 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $81.01, for a total transaction of $225,693.86. Following the transaction, the senior vice president now owns 29,685 shares of the company's stock, valued at approximately $2,404,781.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Lamb Weston news, SVP Gerardo Scheufler sold 2,786 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $81.01, for a total transaction of $225,693.86. Following the transaction, the senior vice president now owns 29,685 shares of the company's stock, valued at approximately $2,404,781.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Eryk J. Spytek sold 3,001 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $79.97, for a total value of $239,989.97. Following the transaction, the senior vice president now directly owns 47,936 shares in the company, valued at approximately $3,833,441.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,654 shares of company stock valued at $755,709. 0.80% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Separately, TheStreet cut Lamb Weston from a "b-" rating to a "c+" rating in a report on Wednesday, July 27th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $67.67.Lamb Weston Price Performance
LW stock opened at $77.17 on Wednesday. Lamb Weston Holdings, Inc. has a 1 year low of $49.71 and a 1 year high of $83.29. The company has a debt-to-equity ratio of 7.48, a quick ratio of 1.55 and a current ratio of 2.37. The stock's 50 day moving average price is $79.27 and its 200 day moving average price is $70.28. The firm has a market cap of $11.09 billion, a P/E ratio of 56.33, a PEG ratio of 1.19 and a beta of 0.53.
Lamb Weston (NYSE:LW – Get Rating) last posted its earnings results on Wednesday, July 27th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.14. Lamb Weston had a return on equity of 78.71% and a net margin of 4.90%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.07 billion. On average, sell-side analysts expect that Lamb Weston Holdings, Inc. will post 2.79 earnings per share for the current fiscal year.
Lamb Weston Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 5th were paid a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, August 4th. Lamb Weston's payout ratio is currently 71.53%.
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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