State of New Jersey Common Pension Fund D Sells 29,682 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

State of New Jersey Common Pension Fund D trimmed its position in shares of Lamb Weston Holdings, Inc. (NYSE:LW) by 35.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,201 shares of the specialty retailer’s stock after selling 29,682 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Lamb Weston were worth $4,473,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. 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 acquiring an additional 34,553 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Lamb Weston by 66.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,643 shares of the specialty retailer’s stock valued at $4,028,000 after acquiring an additional 15,364 shares during the period. Empowered Funds LLC bought a new stake in Lamb Weston during the first quarter valued at about $810,000. Confluence Investment Management LLC bought a new stake in Lamb Weston during the second quarter valued at about $7,937,000. Finally, EntryPoint Capital LLC bought a new stake in Lamb Weston during the first quarter valued at about $28,000. 89.56% of the stock is currently owned by institutional investors.

Lamb Weston Stock Up 0.9 %

Shares of LW opened at $64.76 on Tuesday. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 5.96 and a beta of 0.75. The company has a quick ratio of 0.59, a current ratio of 1.29 and a debt-to-equity ratio of 1.92. Lamb Weston Holdings, Inc. has a 12 month low of $52.99 and a 12 month high of $111.88. The company has a 50-day moving average price of $64.43 and a two-hundred day moving average price of $80.49.

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

Lamb Weston Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Friday, August 2nd. Lamb Weston’s dividend payout ratio (DPR) is currently 19.23%.

Wall Street Analyst Weigh In

LW has been the subject of a number of research analyst reports. Consumer Edge lowered shares of Lamb Weston from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. Barclays reduced their target price on shares of Lamb Weston from $96.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Stifel Nicolaus cut shares of Lamb Weston from a “buy” rating to a “hold” rating and reduced their target price for the company from $115.00 to $60.00 in a research note on Thursday, July 25th. JPMorgan Chase & Co. reduced their target price on shares of Lamb Weston from $108.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group reduced their target price on shares of Lamb Weston from $132.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Lamb Weston presently has an average rating of “Moderate Buy” and a consensus price target of $87.70.

Insider Activity

In other news, Director William G. Jurgensen bought 10,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $55.43 per share, for a total transaction of $554,300.00. Following the completion of the purchase, the director now owns 173,377 shares of the company’s stock, valued at approximately $9,610,287.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.