DoubleLine ETF Adviser LP Sells 511 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

DoubleLine ETF Adviser LP lessened its position in Lamb Weston Holdings, Inc. (NYSE:LW) by 8.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,727 shares of the specialty retailer’s stock after selling 511 shares during the period. DoubleLine ETF Adviser LP’s holdings in Lamb Weston were worth $482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LW. TPG GP A LLC lifted its stake in shares of Lamb Weston by 74.4% in the second quarter. TPG GP A LLC now owns 2,924,230 shares of the specialty retailer’s stock worth $245,869,000 after buying an additional 1,247,206 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Lamb Weston by 78.5% in the second quarter. Marshall Wace LLP now owns 1,888,556 shares of the specialty retailer’s stock worth $158,790,000 after buying an additional 830,511 shares in the last quarter. Artemis Investment Management LLP lifted its stake in shares of Lamb Weston by 117.2% in the first quarter. Artemis Investment Management LLP now owns 1,230,538 shares of the specialty retailer’s stock worth $131,035,000 after buying an additional 663,985 shares in the last quarter. APG Asset Management US Inc. bought a new position in shares of Lamb Weston in the fourth quarter worth approximately $56,699,000. Finally, Ninety One UK Ltd bought a new position in shares of Lamb Weston in the second quarter worth approximately $42,518,000. Institutional investors own 89.56% of the company’s stock.

Lamb Weston Stock Up 2.4 %

Shares of LW stock opened at $66.49 on Friday. Lamb Weston Holdings, Inc. has a 12 month low of $52.99 and a 12 month high of $111.88. The stock has a market cap of $9.60 billion, a P/E ratio of 8.88, a P/E/G ratio of 6.18 and a beta of 0.75. The company has a current ratio of 1.29, a quick ratio of 0.59 and a debt-to-equity ratio of 1.92. The company has a 50 day simple moving average of $62.39 and a two-hundred day simple moving average of $78.77.

Lamb Weston (NYSE:LW) last announced its 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 net margin of 11.22% and a return on equity of 44.06%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.71 billion. On average, research analysts expect that Lamb Weston Holdings, Inc. will post 4.54 earnings per share for the current year.

Lamb Weston Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were paid a $0.36 dividend. The ex-dividend date was Friday, August 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.17%. Lamb Weston’s dividend payout ratio (DPR) is presently 19.23%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LW shares. The Goldman Sachs Group decreased their price objective on shares of Lamb Weston from $132.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, July 25th. TD Cowen boosted their price objective on shares of Lamb Weston from $61.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday. Citigroup boosted their price objective on shares of Lamb Weston from $72.00 to $75.00 and gave the company a “buy” rating in a report on Monday. Consumer Edge cut shares of Lamb Weston from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company decreased their price objective on shares of Lamb Weston from $98.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.70.

Insider Transactions at Lamb Weston

In other news, Director William G. Jurgensen acquired 10,000 shares of Lamb Weston stock in a transaction dated Friday, July 26th. The stock was purchased 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 approximately $9,610,287.11. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.66% of the company’s stock.

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.