PEAK6 Investments L.P. Acquires Shares of 38,004 Lamb Weston Holdings Inc. (LW)
PEAK6 Investments L.P. acquired a new stake in shares of Lamb Weston Holdings Inc. (NYSE:LW) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 38,004 shares of the specialty retailer’s stock, valued at approximately $1,782,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Schroder Investment Management Group bought a new stake in shares of Lamb Weston in the 2nd quarter worth approximately $106,000. Advisory Services Network LLC grew its position in shares of Lamb Weston by 81.5% in the 2nd quarter. Advisory Services Network LLC now owns 3,094 shares of the specialty retailer’s stock worth $136,000 after buying an additional 1,389 shares during the last quarter. First Mercantile Trust Co. bought a new stake in shares of Lamb Weston in the 2nd quarter worth approximately $137,000. Massey Quick Simon & CO. LLC bought a new stake in shares of Lamb Weston in the 3rd quarter worth approximately $146,000. Finally, IndexIQ Advisors LLC bought a new stake in shares of Lamb Weston in the 2nd quarter worth approximately $149,000. 79.41% of the stock is currently owned by institutional investors.
Lamb Weston Holdings Inc. (LW) remained flat at $$54.45 during midday trading on Thursday. 559,600 shares of the company traded hands, compared to its average volume of 983,503. 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 52-week low of $34.00 and a 52-week high of $55.16. The company has a market capitalization of $7,960.43 and a P/E ratio of 23.67.
Lamb Weston (NYSE:LW) last released its quarterly earnings results on Wednesday, October 4th. The specialty retailer reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. Lamb Weston had a negative return on equity of 50.81% and a net margin of 10.31%. The company had revenue of $817.50 million for the quarter, compared to analyst estimates of $795.61 million. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. equities analysts expect that Lamb Weston Holdings Inc. will post 2.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were given a dividend of $0.1875 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.75 annualized dividend and a dividend yield of 1.38%. Lamb Weston’s dividend payout ratio is presently 33.63%.
LW has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Lamb Weston from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Friday, October 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $50.00 price objective (up from $46.00) on shares of Lamb Weston in a research report on Thursday, October 5th. Jefferies Group restated a “buy” rating and set a $58.00 price target (up from $53.00) on shares of Lamb Weston in a research report on Thursday, October 5th. Finally, Bank of America lifted their price target on Lamb Weston from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $50.63.
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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