Liberty One Investment Management LLC Reduces Stock Position in Lamb Weston $LW

Liberty One Investment Management LLC cut its holdings in Lamb Weston (NYSE:LW) by 4.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 395,958 shares of the specialty retailer’s stock after selling 20,208 shares during the period. Lamb Weston accounts for 1.7% of Liberty One Investment Management LLC’s investment portfolio, making the stock its 22nd largest holding. Liberty One Investment Management LLC’s holdings in Lamb Weston were worth $16,733,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Lamb Weston by 29.4% during the first quarter. Royal Bank of Canada now owns 185,038 shares of the specialty retailer’s stock worth $9,862,000 after acquiring an additional 42,039 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Lamb Weston by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,355 shares of the specialty retailer’s stock valued at $872,000 after purchasing an additional 549 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Lamb Weston by 19.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,490 shares of the specialty retailer’s stock valued at $181,000 after purchasing an additional 567 shares during the period. Amundi raised its stake in shares of Lamb Weston by 405.9% during the 2nd quarter. Amundi now owns 256,794 shares of the specialty retailer’s stock valued at $13,548,000 after purchasing an additional 206,034 shares during the period. Finally, Gamco Investors INC. ET AL lifted its holdings in Lamb Weston by 70.7% during the 2nd quarter. Gamco Investors INC. ET AL now owns 18,116 shares of the specialty retailer’s stock worth $939,000 after purchasing an additional 7,503 shares in the last quarter. 89.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on Lamb Weston from $46.00 to $40.00 and set a “hold” rating for the company in a research note on Monday, March 30th. JPMorgan Chase & Co. upped their price target on Lamb Weston from $43.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Stephens started coverage on shares of Lamb Weston in a report on Wednesday, May 27th. They issued an “equal weight” rating and a $46.00 price target on the stock. Barclays raised their price objective on shares of Lamb Weston from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price objective on shares of Lamb Weston from $46.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $49.27.

Lamb Weston Price Performance

NYSE:LW opened at $49.17 on Friday. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 6.37 and a beta of 0.47. Lamb Weston has a 52-week low of $37.62 and a 52-week high of $67.07. The stock has a fifty day moving average of $44.62 and a 200 day moving average of $44.22. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.69 and a current ratio of 1.46.

About Lamb Weston

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.