SG Americas Securities LLC Buys New Stake in Lamb Weston Holdings Inc (LW)
SG Americas Securities LLC bought a new stake in shares of Lamb Weston Holdings Inc (NYSE:LW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 33,114 shares of the specialty retailer’s stock, valued at approximately $1,869,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Lamb Weston by 2.7% during the second quarter. State Street Corp now owns 3,922,298 shares of the specialty retailer’s stock valued at $172,731,000 after purchasing an additional 103,358 shares in the last quarter. Kensico Capital Management Corp lifted its position in Lamb Weston by 56.9% during the third quarter. Kensico Capital Management Corp now owns 3,640,000 shares of the specialty retailer’s stock valued at $170,680,000 after purchasing an additional 1,320,000 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Lamb Weston by 3.3% during the third quarter. Janus Henderson Group PLC now owns 2,765,291 shares of the specialty retailer’s stock valued at $129,664,000 after acquiring an additional 89,190 shares during the period. Ameriprise Financial Inc. raised its holdings in Lamb Weston by 5.3% during the third quarter. Ameriprise Financial Inc. now owns 1,979,304 shares of the specialty retailer’s stock valued at $92,810,000 after acquiring an additional 100,388 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Lamb Weston by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 1,550,426 shares of the specialty retailer’s stock valued at $72,700,000 after acquiring an additional 53,083 shares during the period. Institutional investors own 80.22% of the company’s stock.
In other news, Director Peter J. Bensen bought 5,000 shares of Lamb Weston stock in a transaction dated Monday, January 8th. The shares were purchased at an average cost of $58.18 per share, with a total value of $290,900.00. Following the completion of the acquisition, the director now owns 1,935 shares of the company’s stock, valued at approximately $112,578.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.
Lamb Weston (NYSE:LW) last posted its quarterly earnings results on Thursday, January 4th. The specialty retailer reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.01. Lamb Weston had a negative return on equity of 53.18% and a net margin of 9.85%. The business had revenue of $824.60 million for the quarter, compared to analysts’ expectations of $815.29 million. During the same period last year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. equities research analysts predict that Lamb Weston Holdings Inc will post 2.46 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 2nd will be issued a $0.1913 dividend. This represents a $0.77 annualized dividend and a dividend yield of 1.34%. This is a boost from Lamb Weston’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, February 1st. Lamb Weston’s payout ratio is 35.19%.
A number of equities research analysts have commented on LW shares. Stifel Nicolaus reissued a “hold” rating and set a $64.00 price target (up from $58.00) on shares of Lamb Weston in a report on Monday, January 22nd. Zacks Investment Research cut Lamb Weston from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Jefferies Group raised their price target on Lamb Weston to $64.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Finally, Bank of America raised their price target on Lamb Weston from $52.00 to $57.00 and gave the company a “buy” rating in a report on Monday, November 6th. Three 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. Lamb Weston has a consensus rating of “Buy” and an average price target of $55.63.
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About Lamb Weston
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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