Jennison Associates LLC Has $1.90 Million Stock Holdings in Lamb Weston Holdings, Inc. (NYSE:LW)

Jennison Associates LLC boosted its holdings in Lamb Weston Holdings, Inc. (NYSE:LW) by 20.6% in the third quarter, Holdings Channel reports. The institutional investor owned 29,290 shares of the specialty retailer’s stock after buying an additional 5,006 shares during the period. Jennison Associates LLC’s holdings in Lamb Weston were worth $1,896,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LW. EntryPoint Capital LLC bought a new position in shares of Lamb Weston during the first quarter valued at $28,000. Crewe Advisors LLC raised its position in Lamb Weston by 357.5% during the 2nd quarter. Crewe Advisors LLC now owns 334 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 261 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Lamb Weston by 135.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the specialty retailer’s stock worth $32,000 after buying an additional 220 shares during the period. City State Bank grew its position in shares of Lamb Weston by 56.2% in the 3rd quarter. City State Bank now owns 417 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of Lamb Weston in the second quarter valued at about $36,000. 89.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on LW. Stifel Nicolaus upped their target price on Lamb Weston from $65.00 to $80.00 and gave the company a “hold” rating in a report on Friday, October 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $68.00 price objective (up from $63.00) on shares of Lamb Weston in a research note on Monday, October 7th. Citigroup lifted their target price on shares of Lamb Weston from $76.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their price target on Lamb Weston from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Finally, Bank of America boosted their price objective on Lamb Weston from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $82.22.

Lamb Weston Price Performance

LW stock opened at $76.92 on Friday. Lamb Weston Holdings, Inc. has a 1 year low of $52.99 and a 1 year high of $111.88. The stock has a market capitalization of $10.97 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.37 and a beta of 0.72. The company’s 50-day moving average is $73.11 and its 200-day moving average is $74.01. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.19 and a quick ratio of 0.54.

Lamb Weston (NYSE:LW) last announced its quarterly earnings results on Tuesday, October 1st. The specialty retailer reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.55 billion. Lamb Weston had a return on equity of 34.33% and a net margin of 9.57%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 earnings per share. Equities research analysts expect that Lamb Weston Holdings, Inc. will post 4.26 EPS for the current fiscal year.

Lamb Weston Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, November 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.87%. Lamb Weston’s dividend payout ratio (DPR) is presently 33.80%.

About Lamb Weston

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.