Allspring Global Investments Holdings LLC Sells 489 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Lamb Weston Holdings, Inc. (NYSE:LW) by 6.6% in the second quarter, Holdings Channel.com reports. The fund owned 6,951 shares of the specialty retailer’s stock after selling 489 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lamb Weston were worth $584,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Sei Investments Co. boosted its holdings in Lamb Weston by 20.0% during the first quarter. Sei Investments Co. now owns 207,710 shares of the specialty retailer’s stock valued at $22,128,000 after purchasing an additional 34,553 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Lamb Weston by 66.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,643 shares of the specialty retailer’s stock valued at $4,028,000 after buying an additional 15,364 shares in the last quarter. Empowered Funds LLC bought a new stake in Lamb Weston in the first quarter valued at $810,000. Confluence Investment Management LLC acquired a new position in Lamb Weston during the second quarter worth $7,937,000. Finally, EntryPoint Capital LLC bought a new position in shares of Lamb Weston during the first quarter valued at $28,000. 89.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lamb Weston

In related news, Director William G. Jurgensen acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average cost of $55.43 per share, with a total value of $554,300.00. Following the completion of the purchase, the director now directly owns 173,377 shares in the company, valued at $9,610,287.11. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays lowered their target price on shares of Lamb Weston from $96.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. JPMorgan Chase & Co. decreased their price objective on shares of Lamb Weston from $108.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Citigroup dropped their price objective on shares of Lamb Weston from $106.00 to $104.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. The Goldman Sachs Group reduced their target price on Lamb Weston from $132.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Wells Fargo & Company dropped their price target on Lamb Weston from $98.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $87.70.

Lamb Weston Stock Up 0.7 %

NYSE LW opened at $62.11 on Friday. The stock has a market capitalization of $8.97 billion, a P/E ratio of 8.29, a price-to-earnings-growth ratio of 5.90 and a beta of 0.74. Lamb Weston Holdings, Inc. has a 52 week low of $52.99 and a 52 week high of $111.88. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.59 and a current ratio of 1.29. The stock has a fifty day moving average of $67.10 and a 200-day moving average of $82.66.

Lamb Weston (NYSE:LW) last announced its quarterly earnings data on Wednesday, July 24th. The specialty retailer reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.46). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.71 billion. Lamb Weston had a return on equity of 44.06% and a net margin of 11.22%. On average, equities research analysts forecast that Lamb Weston Holdings, Inc. will post 4.54 EPS for the current year.

Lamb Weston Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.44 annualized dividend and a yield of 2.32%. Lamb Weston’s dividend payout ratio is currently 19.23%.

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.