Retirement Systems of Alabama Acquires 90,911 Shares of Lamb Weston Holdings Inc. (LW)
Retirement Systems of Alabama increased its holdings in Lamb Weston Holdings Inc. (NYSE:LW) by 50.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,802 shares of the specialty retailer’s stock after purchasing an additional 90,911 shares during the period. Retirement Systems of Alabama owned approximately 0.18% of Lamb Weston Holdings worth $12,651,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Schroder Investment Management Group acquired a new position in Lamb Weston Holdings during the 2nd quarter worth $106,000. Advisory Services Network LLC lifted its position in Lamb Weston Holdings by 81.5% during the 2nd quarter. Advisory Services Network LLC now owns 3,094 shares of the specialty retailer’s stock worth $136,000 after acquiring an additional 1,389 shares during the last quarter. First Mercantile Trust Co. acquired a new position in Lamb Weston Holdings during the 2nd quarter worth $137,000. IndexIQ Advisors LLC acquired a new position in Lamb Weston Holdings during the 2nd quarter worth $149,000. Finally, Huntington National Bank acquired a new position in Lamb Weston Holdings during the 3rd quarter worth $155,000. Hedge funds and other institutional investors own 79.78% of the company’s stock.
LW has been the subject of a number of research analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $46.00 target price (up previously from $45.00) on shares of Lamb Weston Holdings in a research report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “buy” rating and set a $53.00 price objective on shares of Lamb Weston Holdings in a research report on Monday, September 25th. Zacks Investment Research raised shares of Lamb Weston Holdings from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday, October 6th. Finally, Bank of America Corporation upped their price objective on shares of Lamb Weston Holdings from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Three investment 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 company. Lamb Weston Holdings has a consensus rating of “Buy” and an average target price of $50.63.
Lamb Weston Holdings Inc. (NYSE LW) opened at $53.45 on Friday. The company has a market cap of $7,710.43 and a PE ratio of 22.93. The company has a current ratio of 1.62, a quick ratio of 0.67 and a debt-to-equity ratio of -4.10. Lamb Weston Holdings Inc. has a 52-week low of $30.43 and a 52-week high of $54.03.
Lamb Weston Holdings (NYSE:LW) last announced its quarterly earnings data on Wednesday, October 4th. The specialty retailer reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The business had revenue of $817.50 million during the quarter, compared to analyst estimates of $795.61 million. Lamb Weston Holdings had a net margin of 10.31% and a negative return on equity of 50.81%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. sell-side analysts forecast that Lamb Weston Holdings Inc. will post 2.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Thursday, November 2nd. Lamb Weston Holdings’s dividend payout ratio (DPR) is presently 33.63%.
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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