Kimelman & Baird LLC Acquires New Stake in Lamb Weston Holdings, Inc. (NYSE:LW)

Kimelman & Baird LLC bought a new stake in Lamb Weston Holdings, Inc. (NYSE:LW) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,447 shares of the specialty retailer’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WFA Asset Management Corp grew its position in shares of Lamb Weston by 248.6% in the first quarter. WFA Asset Management Corp now owns 244 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 174 shares during the period. EntryPoint Capital LLC purchased a new stake in Lamb Weston in the 1st quarter valued at about $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Lamb Weston during the 1st quarter valued at about $32,000. Crewe Advisors LLC lifted its holdings in shares of 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 acquiring an additional 261 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Lamb Weston by 135.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 220 shares during the last quarter. 89.56% of the stock is currently owned by hedge funds and other institutional investors.

Lamb Weston Trading Down 3.1 %

LW opened at $64.74 on Tuesday. The firm has a market capitalization of $9.35 billion, a P/E ratio of 8.64, a P/E/G ratio of 6.18 and a beta of 0.75. The firm’s 50 day moving average is $62.18 and its 200-day moving average is $78.18. 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 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 analysts’ consensus estimates of $1.24 by ($0.46). The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Lamb Weston had a return on equity of 44.06% and a net margin of 11.22%. Analysts expect that Lamb Weston Holdings, Inc. will post 4.54 EPS for the current fiscal year.

Lamb Weston Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, November 1st. Lamb Weston’s dividend payout ratio (DPR) is currently 19.23%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LW shares. Wells Fargo & Company cut their price target on shares of Lamb Weston from $98.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. JPMorgan Chase & Co. reduced their target price on Lamb Weston from $108.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. TD Cowen upped their price target on Lamb Weston from $61.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, September 24th. Bank of America lifted their price objective on Lamb Weston from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Citigroup raised their price target on shares of Lamb Weston from $72.00 to $75.00 and gave the company a “buy” rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.70.

Insider Transactions at Lamb Weston

In related news, Director William G. Jurgensen purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $55.43 per share, with a total value of $554,300.00. Following the completion of the acquisition, the director now directly 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 at 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.