Raymond James & Associates Buys 130,428 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Raymond James & Associates boosted its stake in Lamb Weston Holdings, Inc. (NYSE:LW) by 237.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 185,444 shares of the specialty retailer’s stock after acquiring an additional 130,428 shares during the period. Raymond James & Associates’ holdings in Lamb Weston were worth $15,592,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. WFA Asset Management Corp increased its position in shares of Lamb Weston by 248.6% during the first quarter. WFA Asset Management Corp now owns 244 shares of the specialty retailer’s stock worth $26,000 after buying an additional 174 shares during the period. EntryPoint Capital LLC acquired a new stake in Lamb Weston during the 1st quarter worth about $28,000. Redmont Wealth Advisors LLC bought a new position in shares of Lamb Weston in the 1st quarter worth about $32,000. GAMMA Investing LLC lifted its stake in shares of Lamb Weston by 135.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 220 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Lamb Weston by 251.6% during the 2nd quarter. Blue Trust Inc. now owns 436 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 312 shares in the last quarter. Institutional investors and hedge funds own 89.56% of the company’s stock.

Lamb Weston Stock Up 0.4 %

Lamb Weston stock opened at $62.69 on Friday. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 5.65 and a beta of 0.74. The firm’s fifty day moving average price is $71.21 and its two-hundred day moving average price is $85.15. Lamb Weston Holdings, Inc. has a 1-year low of $52.99 and a 1-year high of $111.88. The company has a current ratio of 1.29, a quick ratio of 0.59 and a debt-to-equity ratio of 1.92.

Lamb Weston (NYSE:LW) last announced its quarterly earnings results on Wednesday, July 24th. The specialty retailer reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.46). The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.71 billion. Lamb Weston had a net margin of 11.22% and a return on equity of 44.06%. On average, equities research analysts predict that Lamb Weston Holdings, Inc. will post 4.55 earnings per share for the current fiscal year.

Lamb Weston Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be given a dividend of $0.36 per share. The ex-dividend date is Friday, August 2nd. This represents a $1.44 annualized dividend and a dividend yield of 2.30%. Lamb Weston’s payout ratio is 19.23%.

Analyst Ratings Changes

A number of brokerages have weighed in on LW. The Goldman Sachs Group lowered their target price on Lamb Weston from $132.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Consumer Edge lowered shares of Lamb Weston from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Citigroup cut their target price on shares of Lamb Weston from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Barclays reduced their price target on shares of Lamb Weston from $96.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lamb Weston from $108.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.70.

Insider Buying and Selling

In related news, Director William G. Jurgensen acquired 10,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were acquired at an average cost of $55.43 per share, for a total transaction of $554,300.00. Following the purchase, the director now owns 173,377 shares in the company, valued at $9,610,287.11. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.66% of the stock is currently owned by corporate insiders.

Lamb Weston 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.