Lamb Weston Holdings Inc (LW) Position Lowered by Cardinal Capital Management LLC CT
Cardinal Capital Management LLC CT cut its holdings in shares of Lamb Weston Holdings Inc (NYSE:LW) by 72.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 50,803 shares of the specialty retailer’s stock after selling 133,385 shares during the quarter. Cardinal Capital Management LLC CT’s holdings in Lamb Weston were worth $2,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Lamb Weston by 5.0% during the fourth quarter. BlackRock Inc. now owns 13,164,249 shares of the specialty retailer’s stock valued at $743,124,000 after buying an additional 622,607 shares during the last quarter. Kensico Capital Management Corp boosted its position in Lamb Weston by 56.9% in the third quarter. Kensico Capital Management Corp now owns 3,640,000 shares of the specialty retailer’s stock worth $170,680,000 after purchasing an additional 1,320,000 shares during the last quarter. Janus Henderson Group PLC boosted its position in Lamb Weston by 3.3% in the third quarter. Janus Henderson Group PLC now owns 2,765,291 shares of the specialty retailer’s stock worth $129,664,000 after purchasing an additional 89,190 shares during the last quarter. Wells Fargo & Company MN boosted its position in Lamb Weston by 73.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,195,707 shares of the specialty retailer’s stock worth $123,948,000 after purchasing an additional 928,686 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Lamb Weston by 5.3% in the third quarter. Ameriprise Financial Inc. now owns 1,979,304 shares of the specialty retailer’s stock worth $92,810,000 after purchasing an additional 100,388 shares during the last quarter. 80.27% of the stock is currently owned by institutional investors.
In related news, Director Peter J. Bensen acquired 5,000 shares of the 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 transaction, the director now directly owns 1,935 shares in the company, valued at $112,578.30. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by insiders.
Lamb Weston (NYSE:LW) last announced its earnings results on Thursday, January 4th. The specialty retailer reported $0.54 earnings per share (EPS) for the quarter, topping the 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 posted $0.63 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. equities analysts anticipate that Lamb Weston Holdings Inc will post 2.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 2nd were given a dividend of $0.1913 per share. This is a boost from Lamb Weston’s previous quarterly dividend of $0.19. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, February 1st. Lamb Weston’s payout ratio is presently 35.19%.
Several research analysts have issued reports on the company. Zacks Investment Research raised Lamb Weston from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Thursday, January 25th. Jefferies Group raised their target price on Lamb Weston to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Bank of America raised their target price on Lamb Weston from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Finally, Stifel Nicolaus raised their target price on Lamb Weston from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $58.14.
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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