American International Group Inc. Buys 15,035 Shares of Lamb Weston Holdings Inc. (LW)
American International Group Inc. grew its stake in shares of Lamb Weston Holdings Inc. (NYSE:LW) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 299,036 shares of the specialty retailer’s stock after acquiring an additional 15,035 shares during the period. American International Group Inc. owned 0.20% of Lamb Weston worth $14,022,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. ING Groep NV increased its holdings in shares of Lamb Weston by 9.9% in the third quarter. ING Groep NV now owns 11,276 shares of the specialty retailer’s stock worth $529,000 after purchasing an additional 1,019 shares during the period. Icon Advisers Inc. Co. bought a new position in shares of Lamb Weston in the third quarter worth $783,000. Pacer Advisors Inc. increased its stake in Lamb Weston by 14.1% in the third quarter. Pacer Advisors Inc. now owns 26,607 shares of the specialty retailer’s stock valued at $1,248,000 after acquiring an additional 3,298 shares during the last quarter. Cipher Capital LP increased its stake in Lamb Weston by 2.4% in the third quarter. Cipher Capital LP now owns 116,210 shares of the specialty retailer’s stock valued at $5,449,000 after acquiring an additional 2,760 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake 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 valued at $92,810,000 after acquiring an additional 100,388 shares during the last quarter. Hedge funds and other institutional investors own 79.88% of the company’s stock.
Shares of Lamb Weston Holdings Inc. (LW) opened at $54.44 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.62 and a debt-to-equity ratio of -4.10. Lamb Weston Holdings Inc. has a 1-year low of $32.01 and a 1-year high of $54.65. The company has a market cap of $7,958.96 and a PE ratio of 23.67.
Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Wednesday, October 4th. The specialty retailer reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.07. Lamb Weston had a net margin of 10.31% and a negative return on equity of 50.81%. The business had revenue of $817.50 million during the quarter, compared to analyst estimates of $795.61 million. Lamb Weston’s revenue for the quarter was up 5.3% compared to the same quarter last year. equities analysts anticipate that Lamb Weston Holdings Inc. will post 2.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.75 annualized dividend and a yield of 1.38%. Lamb Weston’s dividend payout ratio (DPR) is presently 33.63%.
A number of research analysts recently commented on LW shares. Jefferies Group LLC reissued a “buy” rating and issued a $58.00 target price (up previously from $53.00) on shares of Lamb Weston in a research note on Thursday, October 5th. Bank of America Corporation increased their target price on Lamb Weston from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Zacks Investment Research raised Lamb Weston from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Friday, October 6th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $50.00 target price (up previously from $46.00) on shares of Lamb Weston in a research note on Thursday, October 5th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Lamb Weston currently has a consensus rating of “Buy” and an average price target of $50.63.
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Lamb Weston Profile
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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