Summit Investment Advisors Inc. Cuts Stake in Lamb Weston $LW

Summit Investment Advisors Inc. lessened its stake in Lamb Weston (NYSE:LW) by 42.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,460 shares of the specialty retailer’s stock after selling 6,906 shares during the period. Summit Investment Advisors Inc.’s holdings in Lamb Weston were worth $504,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. AE Wealth Management LLC increased its position in shares of Lamb Weston by 14.0% in the second quarter. AE Wealth Management LLC now owns 4,798 shares of the specialty retailer’s stock valued at $249,000 after acquiring an additional 588 shares during the period. Fox Run Management L.L.C. increased its holdings in Lamb Weston by 51.7% during the 2nd quarter. Fox Run Management L.L.C. now owns 12,670 shares of the specialty retailer’s stock valued at $657,000 after purchasing an additional 4,318 shares during the period. First Horizon Advisors Inc. grew its position in shares of Lamb Weston by 519.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 843 shares of the specialty retailer’s stock worth $44,000 after buying an additional 707 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Lamb Weston by 29.4% during the second quarter. Bank of New York Mellon Corp now owns 912,668 shares of the specialty retailer’s stock valued at $47,322,000 after buying an additional 207,210 shares during the period. Finally, Strs Ohio raised its holdings in shares of Lamb Weston by 1.6% during the second quarter. Strs Ohio now owns 203,256 shares of the specialty retailer’s stock valued at $10,539,000 after acquiring an additional 3,256 shares in the last quarter. Hedge funds and other institutional investors own 89.56% of the company’s stock.

Lamb Weston Stock Performance

Shares of Lamb Weston stock opened at $57.77 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.77 and a debt-to-equity ratio of 2.05. The stock’s fifty day moving average price is $60.63 and its 200-day moving average price is $56.09. The firm has a market cap of $8.05 billion, a P/E ratio of 27.64, a P/E/G ratio of 3.88 and a beta of 0.51. Lamb Weston has a 12 month low of $47.87 and a 12 month high of $83.98.

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

Lamb Weston Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on LW shares. Barclays lifted their price target on shares of Lamb Weston from $61.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Cowen reiterated a “hold” rating on shares of Lamb Weston in a research note on Wednesday, October 1st. Wells Fargo & Company boosted their target price on Lamb Weston from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Stifel Nicolaus set a $66.00 price target on shares of Lamb Weston in a research report on Wednesday, October 1st. Finally, Cfra Research upgraded shares of Lamb Weston to a “hold” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $65.70.

Lamb Weston Company 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.