180,641 Shares in Lamb Weston $LW Acquired by Kingsview Wealth Management LLC

Key Points

• Kingsview Wealth Management opened a new position in Lamb Weston, buying 180,641 shares valued at about $7.57 million in the fourth quarter.
• Lamb Weston reported better-than-expected quarterly results, with EPS of $0.72 versus the $0.61 estimate and revenue of $1.56 billion versus $1.49 billion expected.
• The company also declared a quarterly dividend of $0.38 per share, equal to an annualized yield of about 3.5%, while analysts currently have a consensus rating of Hold with a $47.82 price target.

Kingsview Wealth Management LLC purchased a new stake in Lamb Weston (NYSE:LW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 180,641 shares of the specialty retailer's stock, valued at approximately $7,567,000. Kingsview Wealth Management LLC owned 0.13% of Lamb Weston as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Lamb Weston by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,679,203 shares of the specialty retailer's stock valued at $698,692,000 after acquiring an additional 43,766 shares during the period. State Street Corp raised its position in shares of Lamb Weston by 1.1% during the second quarter. State Street Corp now owns 5,801,585 shares of the specialty retailer's stock worth $300,812,000 after purchasing an additional 63,865 shares during the period. Geode Capital Management LLC raised its position in shares of Lamb Weston by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 3,528,402 shares of the specialty retailer's stock worth $147,536,000 after purchasing an additional 21,256 shares during the period. Invesco Ltd. lifted its holdings in shares of Lamb Weston by 2.5% during the 3rd quarter. Invesco Ltd. now owns 3,286,305 shares of the specialty retailer's stock valued at $190,869,000 after purchasing an additional 79,257 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Lamb Weston by 45,177.0% during the 4th quarter. M&T Bank Corp now owns 2,835,245 shares of the specialty retailer's stock valued at $118,768,000 after purchasing an additional 2,828,983 shares in the last quarter. Institutional investors and hedge funds own 89.56% of the company's stock.

Lamb Weston Stock Up 1.8%

Shares of Lamb Weston stock opened at $43.55 on Friday. The firm has a market cap of $6.01 billion, a PE ratio of 20.35, a P/E/G ratio of 6.18 and a beta of 0.47. The business's 50 day simple moving average is $42.33 and its 200 day simple moving average is $46.80. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.69 and a current ratio of 1.46. Lamb Weston has a 52-week low of $37.62 and a 52-week high of $67.07.

Lamb Weston (NYSE:LW - Get Free Report) last released its quarterly earnings results on Wednesday, April 1st. The specialty retailer reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.11. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.49 billion. Lamb Weston had a return on equity of 23.77% and a net margin of 4.61%.The business's revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 EPS. On average, analysts predict that Lamb Weston will post 2.85 earnings per share for the current fiscal year.

Lamb Weston Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, May 8th. This represents a $1.52 annualized dividend and a yield of 3.5%. Lamb Weston's dividend payout ratio is presently 71.03%.

Analysts Set New Price Targets

LW has been the subject of a number of research reports. BNP Paribas Exane lowered their target price on Lamb Weston from $48.00 to $41.00 and set a "neutral" rating for the company in a research note on Thursday, April 2nd. Weiss Ratings lowered shares of Lamb Weston from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lamb Weston from $46.00 to $40.00 and set a "hold" rating for the company in a report on Monday, March 30th. Barclays dropped their price objective on shares of Lamb Weston from $55.00 to $46.00 and set an "overweight" rating on the stock in a report on Thursday, April 2nd. Finally, Wells Fargo & Company cut their price objective on shares of Lamb Weston from $54.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Lamb Weston presently has an average rating of "Hold" and a consensus price target of $47.82.

Insiders Place Their Bets

In other Lamb Weston news, Director Peter J. Bensen acquired 5,000 shares of Lamb Weston stock in a transaction dated Monday, April 6th. The stock was bought at an average cost of $39.45 per share, for a total transaction of $197,250.00. Following the purchase, the director directly owned 17,204 shares in the company, valued at approximately $678,697.80. This represents a 40.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jana Partners Management, Lp acquired 136,000 shares of the firm's stock in a transaction dated Tuesday, April 7th. The stock was bought at an average price of $40.89 per share, with a total value of $5,561,040.00. Following the acquisition, the director directly owned 5,148,980 shares in the company, valued at $210,541,792.20. This represents a 2.71% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 391,000 shares of company stock valued at $16,270,790. 0.29% of the stock is owned by insiders.

Lamb Weston Company Profile

Lamb Weston, traded on the NYSE under the symbol LW, is a leading global processor and supplier of frozen potato products. The company's portfolio includes a variety of potato-based items such as French fries, potato wedges, hash browns and specialty cuts tailored to the foodservice and retail grocery channels. Lamb Weston serves quick-service restaurants, full-service operators, grocery chains and food distributors, offering customized product formats, packaging solutions and seasoning options to meet evolving customer demands.

Founded in 1950 and headquartered in Eagle, Idaho, Lamb Weston has grown from a regional processor into one of the world's largest producers of frozen potato products.

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