Shelton Capital Management Cuts Holdings in Lamb Weston Holdings Inc. (LW)
Shelton Capital Management trimmed its position in Lamb Weston Holdings Inc. (NYSE:LW) by 13.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,624 shares of the specialty retailer’s stock after selling 3,707 shares during the quarter. Shelton Capital Management’s holdings in Lamb Weston Holdings were worth $1,084,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Lamb Weston Holdings by 2.4% in the second quarter. Vanguard Group Inc. now owns 12,089,698 shares of the specialty retailer’s stock worth $532,430,000 after buying an additional 279,578 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Lamb Weston Holdings by 2.2% in the second quarter. BlackRock Inc. now owns 11,872,986 shares of the specialty retailer’s stock worth $522,887,000 after buying an additional 260,164 shares in the last quarter. FMR LLC lifted its holdings in shares of Lamb Weston Holdings by 126.3% in 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 in the last quarter. Kensico Capital Management Corp purchased a new stake in shares of Lamb Weston Holdings in the first quarter worth about $82,900,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Lamb Weston Holdings by 30.3% in 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 in the last quarter. 79.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lamb Weston Holdings Inc. (NYSE LW) opened at 49.13 on Friday. The stock has a 50 day moving average of $46.08 and a 200-day moving average of $44.41. Lamb Weston Holdings Inc. has a one year low of $29.62 and a one year high of $49.94. The stock has a market capitalization of $7.18 billion and a P/E ratio of 22.13.
Lamb Weston Holdings (NYSE:LW) last announced its quarterly earnings data on Wednesday, October 4th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The company had revenue of $817.50 million during the quarter, compared to the consensus estimate of $795.61 million. Lamb Weston Holdings had a negative return on equity of 50.81% and a net margin of 10.31%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts forecast that Lamb Weston Holdings Inc. will post $2.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be paid 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 dividend yield of 1.53%. Lamb Weston Holdings’s dividend payout ratio (DPR) is presently 33.63%.
A number of brokerages have recently issued reports on LW. Jefferies Group LLC reissued a “buy” rating and issued a $53.00 price target on shares of Lamb Weston Holdings in a report on Monday, September 25th. Zacks Investment Research raised shares of Lamb Weston Holdings from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Friday. Stifel Nicolaus downgraded shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating and increased their price target for the stock from $42.00 to $44.00 in a report on Tuesday, July 4th. Morgan Stanley reissued an “equal weight” rating and issued a $46.00 price target (up from $45.00) on shares of Lamb Weston Holdings in a report on Wednesday, July 26th. Finally, Bank of America Corporation increased their price target on shares of Lamb Weston Holdings from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.89.
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About Lamb Weston Holdings
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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