Hsbc Holdings PLC Buys 309,995 Shares of Lamb Weston $LW

Hsbc Holdings PLC boosted its stake in shares of Lamb Weston (NYSE:LW) by 191.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 471,886 shares of the specialty retailer’s stock after buying an additional 309,995 shares during the quarter. Hsbc Holdings PLC’s holdings in Lamb Weston were worth $19,922,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Arnhold LLC lifted its holdings in Lamb Weston by 710.2% in the fourth quarter. Arnhold LLC now owns 38,217 shares of the specialty retailer’s stock valued at $1,601,000 after buying an additional 33,500 shares during the period. Capital Research Global Investors grew its holdings in Lamb Weston by 46.3% during the 3rd quarter. Capital Research Global Investors now owns 2,150,000 shares of the specialty retailer’s stock worth $124,872,000 after acquiring an additional 680,000 shares during the period. Dana Investment Advisors Inc. grew its holdings in Lamb Weston by 44.8% during the 4th quarter. Dana Investment Advisors Inc. now owns 89,991 shares of the specialty retailer’s stock worth $3,770,000 after acquiring an additional 27,835 shares during the period. Natixis Advisors LLC grew its holdings in Lamb Weston by 8.7% during the 3rd quarter. Natixis Advisors LLC now owns 535,602 shares of the specialty retailer’s stock worth $31,108,000 after acquiring an additional 42,709 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Lamb Weston by 2,682.3% in the 4th quarter. SG Americas Securities LLC now owns 801,708 shares of the specialty retailer’s stock worth $33,584,000 after acquiring an additional 772,893 shares in the last quarter. Institutional investors own 89.56% of the company’s stock.

Lamb Weston Price Performance

Shares of NYSE LW opened at $45.74 on Thursday. The firm has a market capitalization of $6.32 billion, a P/E ratio of 21.38, a P/E/G ratio of 5.98 and a beta of 0.47. The firm’s 50-day moving average price is $43.45 and its 200-day moving average price is $44.86. The company has a current ratio of 1.46, a quick ratio of 0.69 and a debt-to-equity ratio of 1.99. Lamb Weston has a 1-year low of $37.62 and a 1-year high of $67.07.

Lamb Weston (NYSE:LW) last issued its earnings results on Wednesday, April 1st. The specialty retailer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.61 by $0.11. Lamb Weston had a return on equity of 23.77% and a net margin of 4.61%.The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted $1.10 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Lamb Weston will post 2.85 earnings per share for the current fiscal year.

Lamb Weston Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were issued a $0.38 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.52 annualized dividend and a yield of 3.3%. Lamb Weston’s dividend payout ratio is presently 71.03%.

Insider Activity at Lamb Weston

In other news, Director Jana Partners Management, Lp bought 136,000 shares of the stock in a transaction dated Tuesday, April 7th. The shares were bought at an average cost of $40.89 per share, with a total value of $5,561,040.00. Following the completion of the transaction, the director directly owned 5,148,980 shares of the company’s stock, valued at $210,541,792.20. This trade represents a 2.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter J. Bensen bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was purchased at an average price of $39.45 per share, for a total transaction of $197,250.00. Following the completion of the acquisition, the director owned 17,204 shares in the company, valued at $678,697.80. This represents a 40.97% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 391,000 shares of company stock worth $16,270,790. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LW. Deutsche Bank Aktiengesellschaft dropped their price objective on Lamb Weston from $46.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Wells Fargo & Company lowered their target price on Lamb Weston from $54.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Stephens assumed coverage on Lamb Weston in a research note on Wednesday, May 27th. They issued an “equal weight” rating and a $46.00 price target on the stock. Bank of America dropped their price target on Lamb Weston from $49.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Finally, Zacks Research raised shares of Lamb Weston from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.82.

Lamb Weston Company Profile

Lamb Weston, traded on the NYSE under the symbol LW, is a leading global processor and supplier of frozen potato products. The company’s portfolio includes a variety of potato-based items such as French fries, potato wedges, hash browns and specialty cuts tailored to the foodservice and retail grocery channels. Lamb Weston serves quick-service restaurants, full-service operators, grocery chains and food distributors, offering customized product formats, packaging solutions and seasoning options to meet evolving customer demands.

Founded in 1950 and headquartered in Eagle, Idaho, Lamb Weston has grown from a regional processor into one of the world’s largest producers of frozen potato products.