Lamb Weston $LW Shares Purchased by Legal & General Group Plc

by · The Markets Daily

Legal & General Group Plc raised its stake in shares of Lamb Weston (NYSE:LW – Free Report) by 6.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 273,597 shares of the specialty retailer’s stock after acquiring an additional 17,391 shares during the quarter. Legal & General Group Plc owned approximately 0.20% of Lamb Weston worth $14,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LW. Price T Rowe Associates Inc. MD raised its stake in shares of Lamb Weston by 49.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,500,503 shares of the specialty retailer’s stock valued at $239,877,000 after purchasing an additional 1,483,559 shares in the last quarter. Citigroup Inc. increased its holdings in Lamb Weston by 324.4% in the first quarter. Citigroup Inc. now owns 1,126,982 shares of the specialty retailer’s stock valued at $60,068,000 after buying an additional 861,417 shares during the last quarter. Invesco Ltd. raised its stake in Lamb Weston by 25.7% during the first quarter. Invesco Ltd. now owns 4,055,902 shares of the specialty retailer’s stock valued at $216,180,000 after buying an additional 829,207 shares in the last quarter. Gates Capital Management Inc. lifted its holdings in Lamb Weston by 49.8% during the 1st quarter. Gates Capital Management Inc. now owns 2,016,142 shares of the specialty retailer’s stock worth $107,460,000 after buying an additional 670,611 shares during the last quarter. Finally, Clarkston Capital Partners LLC lifted its holdings in Lamb Weston by 21.1% during the 1st quarter. Clarkston Capital Partners LLC now owns 3,721,559 shares of the specialty retailer’s stock worth $198,359,000 after buying an additional 648,855 shares during the last quarter. Institutional investors own 89.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Zacks Research raised Lamb Weston from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Bank of America boosted their target price on shares of Lamb Weston from $60.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. Stifel Nicolaus set a $66.00 target price on shares of Lamb Weston in a report on Wednesday, October 1st. Sanford C. Bernstein set a $65.00 price target on shares of Lamb Weston and gave the company a “market perform” rating in a report on Wednesday, October 1st. Finally, Weiss Ratings downgraded shares of Lamb Weston from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lamb Weston has a consensus rating of “Hold” and a consensus price target of $65.70.

Check Out Our Latest Stock Report on LW

Lamb Weston Stock Down 0.7%

Lamb Weston stock opened at $59.22 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.77 and a current ratio of 1.49. Lamb Weston has a one year low of $47.87 and a one year high of $83.98. The company has a 50-day simple moving average of $60.81 and a 200-day simple moving average of $56.59. The firm has a market capitalization of $8.25 billion, a P/E ratio of 28.33, a P/E/G ratio of 3.92 and a beta of 0.51.

Lamb Weston (NYSE:LW – Get Free Report) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.64 earnings per share (EPS) for the quarter. Lamb Weston had a net margin of 4.56% and a return on equity of 28.08%. The firm had revenue of $1.15 billion during the quarter. As a group, equities analysts expect that Lamb Weston will post 3.1 earnings per share for the current year.

Lamb Weston Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, October 31st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, October 31st. Lamb Weston’s payout ratio is currently 70.81%.

About Lamb Weston

(Free Report)

Lamb Weston Holdings, Inc produces, distributes, and markets frozen potato products worldwide. The company operates through four segments: Global, Foodservice, Retail, and Other. It offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels.

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