Renaissance Technologies LLC Acquires 487,500 Shares of Lamb Weston Holdings Inc. (LW)
Renaissance Technologies LLC raised its holdings in Lamb Weston Holdings Inc. (NYSE:LW) by 596.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 569,300 shares of the specialty retailer’s stock after acquiring an additional 487,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.39% of Lamb Weston Holdings worth $25,072,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in LW. BlackRock Inc. increased its position in Lamb Weston Holdings by 9,609.1% in the 1st quarter. BlackRock Inc. now owns 11,612,822 shares of the specialty retailer’s stock valued at $488,434,000 after acquiring an additional 11,493,214 shares during the period. Kensico Capital Management Corp acquired a new stake in shares of Lamb Weston Holdings during the first quarter worth $82,900,000. FMR LLC increased its position in shares of Lamb Weston Holdings by 126.3% during the first quarter. FMR LLC now owns 3,331,242 shares of the specialty retailer’s stock worth $140,112,000 after buying an additional 1,859,263 shares during the period. Blue Ridge Capital L.L.C. acquired a new stake in shares of Lamb Weston Holdings during the first quarter worth $75,708,000. Finally, Ameriprise Financial Inc. increased its position in shares of Lamb Weston Holdings by 30.3% during the second quarter. Ameriprise Financial Inc. now owns 1,878,916 shares of the specialty retailer’s stock worth $82,750,000 after buying an additional 437,021 shares during the period. Hedge funds and other institutional investors own 79.78% of the company’s stock.
Shares of Lamb Weston Holdings Inc. (LW) opened at 49.13 on Monday. The stock’s 50 day moving average is $46.08 and its 200 day moving average is $44.41. Lamb Weston Holdings Inc. has a 52-week low of $28.75 and a 52-week high of $49.94. The firm has a market capitalization of $7.18 billion and a PE ratio of 21.93.
Lamb Weston Holdings (NYSE:LW) last posted its quarterly earnings results on Wednesday, October 4th. The specialty retailer reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. Lamb Weston Holdings had a net margin of 10.31% and a negative return on equity of 50.81%. The company had revenue of $817.50 million during the quarter, compared to analyst estimates of $795.61 million. Lamb Weston Holdings’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Lamb Weston Holdings Inc. will post $2.35 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be issued a dividend of $0.1875 per share. The ex-dividend date is Thursday, November 2nd. This represents a $0.75 dividend on an annualized basis and a yield of 1.53%. Lamb Weston Holdings’s dividend payout ratio is currently 33.63%.
LW has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Lamb Weston Holdings from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday. Morgan Stanley reiterated an “equal weight” rating and set a $50.00 price objective (up from $46.00) on shares of Lamb Weston Holdings in a research report on Thursday. Jefferies Group LLC reiterated a “buy” rating and set a $58.00 price objective (up from $53.00) on shares of Lamb Weston Holdings in a research report on Thursday. Bank of America Corporation increased their price objective on shares of Lamb Weston Holdings from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Finally, Stifel Nicolaus cut shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating and increased their price objective for the stock from $42.00 to $44.00 in a research report on Tuesday, July 4th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Lamb Weston Holdings currently has a consensus rating of “Buy” and a consensus price target of $47.89.
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Lamb Weston Holdings Company 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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