Alberta Investment Management Corp Raises Stock Position in Lamb Weston (NYSE:LW)

Key Points

• Alberta Investment Management Corp increased its stake in Lamb Weston by 153.0%, acquiring an additional 60,480 shares, bringing its total holdings to 100,000 shares worth approximately $5.33 million.
• Lamb Weston reported earnings of $0.87 per share for the last quarter, exceeding analysts' expectations of $0.64, alongside a revenue increase of 4.0% year-over-year.
• The firm announced a quarterly dividend of $0.37, reflecting an annualized dividend of $1.48 with a dividend yield of 2.6%.

Alberta Investment Management Corp lifted its stake in Lamb Weston (NYSE:LW - Free Report) by 153.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 100,000 shares of the specialty retailer's stock after acquiring an additional 60,480 shares during the quarter. Alberta Investment Management Corp owned 0.07% of Lamb Weston worth $5,330,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in Lamb Weston during the 1st quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Lamb Weston during the first quarter worth about $28,000. Whipplewood Advisors LLC increased its stake in shares of Lamb Weston by 3,466.7% during the first quarter. Whipplewood Advisors LLC now owns 535 shares of the specialty retailer's stock worth $29,000 after buying an additional 520 shares during the period. Putney Financial Group LLC purchased a new stake in shares of Lamb Weston during the fourth quarter worth approximately $34,000. Finally, CX Institutional acquired a new stake in Lamb Weston in the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 89.56% of the company's stock.

Lamb Weston Price Performance

Lamb Weston stock traded down $1.36 during midday trading on Monday, reaching $54.63. 1,945,526 shares of the stock were exchanged, compared to its average volume of 3,018,048. The company's fifty day moving average is $53.96 and its 200-day moving average is $54.28. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.68 and a current ratio of 1.38. Lamb Weston has a 52 week low of $47.87 and a 52 week high of $83.98. The firm has a market cap of $7.61 billion, a PE ratio of 21.77, a PEG ratio of 2.13 and a beta of 0.49.

Lamb Weston (NYSE:LW - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The specialty retailer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.23. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. Lamb Weston had a net margin of 5.54% and a return on equity of 27.99%. Lamb Weston's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. On average, sell-side analysts forecast that Lamb Weston will post 3.1 EPS for the current year.

Lamb Weston Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 1st will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $1.48 dividend on an annualized basis and a yield of 2.7%. Lamb Weston's payout ratio is 58.96%.

Analyst Ratings Changes

Several equities research analysts recently commented on LW shares. Stifel Nicolaus set a $56.00 price objective on shares of Lamb Weston and gave the stock a "hold" rating in a research report on Thursday, April 24th. Wells Fargo & Company raised their price target on shares of Lamb Weston from $65.00 to $66.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Bank of America reduced their target price on Lamb Weston from $60.00 to $56.00 and set a "neutral" rating on the stock in a report on Wednesday, June 18th. Barclays increased their price objective on shares of Lamb Weston from $61.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, Jefferies Financial Group decreased their target price on shares of Lamb Weston from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Lamb Weston currently has an average rating of "Hold" and an average price target of $67.40.

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.