Lamb Weston Holdings Inc (LW) Shares Bought by Lord Abbett & CO. LLC
Lord Abbett & CO. LLC raised its position in shares of Lamb Weston Holdings Inc (NYSE:LW) by 23.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 279,549 shares of the specialty retailer’s stock after acquiring an additional 53,278 shares during the period. Lord Abbett & CO. LLC’s holdings in Lamb Weston were worth $20,564,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of LW. Advisors Asset Management Inc. boosted its holdings in shares of Lamb Weston by 62.4% during the fourth quarter. Advisors Asset Management Inc. now owns 393 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 151 shares during the period. Sun Life Financial INC bought a new stake in shares of Lamb Weston during the fourth quarter worth approximately $30,000. Guardian Life Insurance Co. of America bought a new stake in shares of Lamb Weston during the fourth quarter worth approximately $30,000. Timber Creek Capital Management LLC boosted its holdings in shares of Lamb Weston by 143.5% during the fourth quarter. Timber Creek Capital Management LLC now owns 526 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 310 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Lamb Weston by 4,768.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,807,491 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 2,749,828 shares during the period. Institutional investors own 82.12% of the company’s stock.
A number of brokerages have recently issued reports on LW. Zacks Investment Research cut Lamb Weston from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Daiwa Capital Markets initiated coverage on Lamb Weston in a report on Wednesday, February 27th. They set an “outperform” rating for the company. Stifel Nicolaus upgraded Lamb Weston from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Tuesday, January 22nd. Jefferies Financial Group set a $85.00 price target on Lamb Weston and gave the company a “buy” rating in a research note on Wednesday, January 16th. Finally, Barclays boosted their price target on Lamb Weston from $76.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $77.14.
Lamb Weston (NYSE:LW) last issued its quarterly earnings results on Friday, January 4th. The specialty retailer reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.10. The business had revenue of $911.40 million during the quarter, compared to analysts’ expectations of $897.08 million. Lamb Weston had a negative return on equity of 160.25% and a net margin of 13.13%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 earnings per share. On average, research analysts predict that Lamb Weston Holdings Inc will post 3.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 1st were given a dividend of $0.20 per share. This is an increase from Lamb Weston’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Thursday, January 31st. Lamb Weston’s payout ratio is currently 30.08%.
Lamb Weston Company Profile
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
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