Oppenheimer Asset Management Inc. Has $890,000 Position in Lamb Weston Holdings, Inc. (NYSE:LW)

Oppenheimer Asset Management Inc. grew its stake in Lamb Weston Holdings, Inc. (NYSE:LW) by 88.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,591 shares of the specialty retailer’s stock after buying an additional 4,979 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Lamb Weston were worth $890,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Lamb Weston in the fourth quarter valued at approximately $93,553,000. Artemis Investment Management LLP boosted its stake in shares of Lamb Weston by 117.2% in the 1st quarter. Artemis Investment Management LLP now owns 1,230,538 shares of the specialty retailer’s stock valued at $131,035,000 after purchasing an additional 663,985 shares during the last quarter. APG Asset Management US Inc. bought a new position in shares of Lamb Weston in the 4th quarter worth about $56,699,000. Ninety One UK Ltd acquired a new position in shares of Lamb Weston in the 2nd quarter valued at about $42,518,000. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Lamb Weston during the 2nd quarter valued at about $24,165,000. 89.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stifel Nicolaus lowered Lamb Weston from a “buy” rating to a “hold” rating and dropped their price target for the company from $115.00 to $60.00 in a research note on Thursday, July 25th. TD Cowen downgraded shares of Lamb Weston from a “buy” rating to a “hold” rating and dropped their target price for the company from $105.00 to $61.00 in a research report on Thursday, July 25th. JPMorgan Chase & Co. reduced their price target on shares of Lamb Weston from $108.00 to $63.00 and set an “overweight” rating for the company in a report 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 on the stock in a report on Wednesday, July 10th. Finally, Consumer Edge downgraded Lamb Weston from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.20.

Lamb Weston Price Performance

LW stock opened at $65.61 on Friday. 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 business has a 50-day simple moving average of $63.70 and a two-hundred day simple moving average of $80.03. The company has a market capitalization of $9.47 billion, a P/E ratio of 8.76, a price-to-earnings-growth ratio of 5.96 and a beta of 0.75. Lamb Weston Holdings, Inc. has a 52-week low of $52.99 and a 52-week high of $111.88.

Lamb Weston (NYSE:LW) last announced its earnings results on Wednesday, July 24th. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.46). The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Lamb Weston had a net margin of 11.22% and a return on equity of 44.06%. Research analysts expect 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 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 dividend yield of 2.19%. Lamb Weston’s dividend payout ratio is currently 19.23%.

Insider Activity at Lamb Weston

In other news, Director William G. Jurgensen acquired 10,000 shares of Lamb Weston stock in a transaction 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 transaction, 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 owned by 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.