Connor Clark & Lunn Investment Management Ltd. Takes Position in Lamb Weston $LW

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Lamb Weston (NYSE:LW) during the second quarter, HoldingsChannel reports. The firm purchased 18,109 shares of the specialty retailer’s stock, valued at approximately $939,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Lamb Weston by 2.6% during the first quarter. Vanguard Group Inc. now owns 17,072,932 shares of the specialty retailer’s stock valued at $909,987,000 after acquiring an additional 426,045 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Lamb Weston by 49.2% during 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 during the last quarter. Invesco Ltd. lifted its stake in shares of Lamb Weston by 25.7% in the 1st quarter. Invesco Ltd. now owns 4,055,902 shares of the specialty retailer’s stock worth $216,180,000 after purchasing an additional 829,207 shares during the period. Clarkston Capital Partners LLC lifted its stake in shares of Lamb Weston by 21.1% in the 1st quarter. Clarkston Capital Partners LLC now owns 3,721,559 shares of the specialty retailer’s stock worth $198,359,000 after purchasing an additional 648,855 shares during the period. Finally, Gates Capital Management Inc. boosted its holdings in shares of Lamb Weston by 49.8% in the first 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. Institutional investors own 89.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Cfra Research raised shares of Lamb Weston to a “hold” rating in a report on Thursday, October 2nd. Wells Fargo & Company increased their price objective on shares of Lamb Weston from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Zacks Research upgraded shares of Lamb Weston from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Stifel Nicolaus set a $66.00 price target on Lamb Weston in a research note on Wednesday, October 1st. Finally, BNP Paribas Exane boosted their price objective on Lamb Weston from $64.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $65.70.

Lamb Weston Stock Performance

Shares of NYSE LW opened at $56.21 on Wednesday. The company has a market cap of $7.83 billion, a P/E ratio of 26.89, a P/E/G ratio of 3.73 and a beta of 0.51. Lamb Weston has a 52-week low of $47.87 and a 52-week high of $83.98. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.77 and a current ratio of 1.49. The firm’s fifty day moving average is $60.57 and its two-hundred day moving average is $56.24.

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

Lamb Weston Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, October 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.6%. Lamb Weston’s dividend payout ratio (DPR) is 70.81%.

Lamb Weston Profile

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.