Envestnet Asset Management Inc. Lowers Stake in Lamb Weston Holdings Inc. (LW)
Envestnet Asset Management Inc. lowered its stake in Lamb Weston Holdings Inc. (NYSE:LW) by 57.6% during the first quarter, Holdings Channel reports. The firm owned 12,077 shares of the specialty retailer’s stock after selling 16,404 shares during the period. Envestnet Asset Management Inc.’s holdings in Lamb Weston Holdings were worth $508,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Lamb Weston Holdings during the first quarter worth approximately $170,000. Ancora Advisors LLC purchased a new position in shares of Lamb Weston Holdings during the fourth quarter worth approximately $178,000. Keybank National Association OH purchased a new position in shares of Lamb Weston Holdings during the fourth quarter worth approximately $201,000. Bessemer Group Inc. purchased a new position in shares of Lamb Weston Holdings during the fourth quarter worth approximately $202,000. Finally, Cigna Investments Inc. New purchased a new position in shares of Lamb Weston Holdings during the fourth quarter worth approximately $206,000. Institutional investors and hedge funds own 78.80% of the company’s stock.
Shares of Lamb Weston Holdings Inc. (LW) opened at 45.55 on Tuesday. The company’s 50-day moving average price is $44.45 and its 200-day moving average price is $40.59. Lamb Weston Holdings Inc. has a one year low of $28.75 and a one year high of $47.99. The stock has a market cap of $6.65 billion and a PE ratio of 22.45.
Lamb Weston Holdings (NYSE:LW) last posted its earnings results on Thursday, April 6th. The specialty retailer reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $768.50 million during the quarter, compared to analysts’ expectations of $759.74 million. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate 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, June 2nd. Investors of record on Sunday, April 30th were given a $0.1875 dividend. The ex-dividend date of this dividend was Wednesday, April 26th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.65%.
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A number of research analysts have recently commented on LW shares. Berenberg Bank started coverage on Lamb Weston Holdings in a research report on Tuesday, May 16th. They set a “buy” rating and a $49.00 price target on the stock. Zacks Investment Research cut Lamb Weston Holdings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 15th. Jefferies Group LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Lamb Weston Holdings in a research report on Tuesday, May 9th. Stifel Nicolaus cut Lamb Weston Holdings from a “buy” rating to a “hold” rating and upped their price target for the company from $42.00 to $44.00 in a research report on Friday, April 7th. Finally, CL King started coverage on Lamb Weston Holdings in a research report on Tuesday, May 23rd. They set a “strong-buy” rating and a $55.00 price target on the stock. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $43.56.
Lamb Weston Holdings Company Profile
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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