Seven Bridges Advisors LLC acquired a new stake in Lamb Weston Holdings Inc. (NYSE:LW) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,799 shares of the specialty retailer’s stock, valued at approximately $211,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Lamb Weston Holdings by 9,609.1% in the first quarter. BlackRock Inc. now owns 11,612,822 shares of the specialty retailer’s stock valued at $488,434,000 after buying an additional 11,493,214 shares during the period. Ruffer LLP bought a new stake in Lamb Weston Holdings during the first quarter valued at about $106,030,000. Kensico Capital Management Corp acquired a new stake in Lamb Weston Holdings during the first quarter valued at $82,900,000. FMR LLC raised its stake in Lamb Weston Holdings by 126.3% in the first quarter. FMR LLC now owns 3,331,242 shares of the specialty retailer’s stock valued at $140,112,000 after buying an additional 1,859,263 shares during the period. Finally, Blue Ridge Capital L.L.C. acquired a new stake in Lamb Weston Holdings during the first quarter valued at $75,708,000. Hedge funds and other institutional investors own 77.05% of the company’s stock.
Lamb Weston Holdings Inc. (NYSE:LW) traded down 0.22% on Friday, reaching $45.27. The company’s stock had a trading volume of 756,030 shares. The company’s 50 day moving average price is $44.11 and its 200-day moving average price is $42.94. Lamb Weston Holdings Inc. has a 12-month low of $29.62 and a 12-month high of $49.94. The stock has a market cap of $6.62 billion and a PE ratio of 20.39.
Lamb Weston Holdings (NYSE:LW) last released its quarterly earnings results on Tuesday, July 25th. The specialty retailer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $833 million for the quarter, compared to analyst estimates of $810.85 million. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts expect that Lamb Weston Holdings Inc. will post $2.30 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be given a dividend of $0.1875 per share. The ex-dividend date is Wednesday, August 2nd. This represents a $0.75 annualized dividend and a dividend yield of 1.66%.
LW has been the topic of several research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $53.00 price objective (up from $50.00) on shares of Lamb Weston Holdings in a research note on Friday, May 19th. Berenberg Bank began coverage on Lamb Weston Holdings in a research report on Tuesday, May 16th. They set a “buy” rating and a $49.00 price objective for the company. Zacks Investment Research upgraded Lamb Weston Holdings from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Friday, May 26th. Bank of America Corporation raised their price objective on 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, Morgan Stanley reiterated an “equal weight” rating and issued a $46.00 target price (up from $45.00) on shares of Lamb Weston Holdings in a report on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $46.22.
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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