Algert Global LLC Reduces Position in Lamb Weston $LW

Key Points

• Algert Global LLC reduced its stake by 24.0%, selling 40,356 shares in Q3 and now holds 128,013 Lamb Weston shares worth about $7.435 million (≈0.09% of the company).
• Insider Jan Eli B. Craps purchased 50,000 shares at an average $48.65 on Feb 6, boosting his holding to 300,000 shares (a 20% increase), valued at roughly $14.6 million.
• Lamb Weston raised its quarterly dividend to $0.38 (annualized $1.52, ~3.8% yield) and the street consensus is a "Hold" rating with a $53 price target.

Algert Global LLC lessened its holdings in shares of Lamb Weston (NYSE:LW - Free Report) by 24.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,013 shares of the specialty retailer's stock after selling 40,356 shares during the quarter. Algert Global LLC owned about 0.09% of Lamb Weston worth $7,435,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Lamb Weston by 29.4% during the 1st quarter. Royal Bank of Canada now owns 185,038 shares of the specialty retailer's stock valued at $9,862,000 after buying an additional 42,039 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Lamb Weston by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,355 shares of the specialty retailer's stock valued at $872,000 after acquiring an additional 549 shares during the period. AE Wealth Management LLC raised its holdings in Lamb Weston by 14.0% during the 2nd quarter. AE Wealth Management LLC now owns 4,798 shares of the specialty retailer's stock valued at $249,000 after acquiring an additional 588 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Lamb Weston during the second quarter worth $939,000. Finally, ProShare Advisors LLC lifted its position in shares of Lamb Weston by 12.1% during the second quarter. ProShare Advisors LLC now owns 24,173 shares of the specialty retailer's stock worth $1,253,000 after acquiring an additional 2,616 shares in the last quarter. Hedge funds and other institutional investors own 89.56% of the company's stock.

Insider Activity

In related news, insider Jan Eli B. Craps acquired 50,000 shares of the company's stock in a transaction dated Friday, February 6th. The stock was bought at an average cost of $48.65 per share, with a total value of $2,432,500.00. Following the acquisition, the insider owned 300,000 shares of the company's stock, valued at approximately $14,595,000. The trade was a 20.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.29% of the company's stock.

Lamb Weston Stock Down 1.7%

Shares of NYSE LW opened at $39.87 on Tuesday. Lamb Weston has a 12 month low of $39.69 and a 12 month high of $67.07. The company has a current ratio of 1.43, a quick ratio of 0.64 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 6.05 and a beta of 0.43. The business has a 50-day moving average of $45.58 and a 200-day moving average of $53.29.

Lamb Weston (NYSE:LW - Get Free Report) last announced its earnings results on Friday, December 19th. The specialty retailer reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.01. Lamb Weston had a net margin of 6.06% and a return on equity of 27.71%. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the firm posted $0.66 earnings per share. Lamb Weston's quarterly revenue was up 1.1% on a year-over-year basis. Sell-side analysts expect that Lamb Weston will post 3.1 earnings per share for the current fiscal year.

Lamb Weston Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, January 30th were given a dividend of $0.38 per share. This is an increase from Lamb Weston's previous quarterly dividend of $0.37. The ex-dividend date was Friday, January 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.8%. Lamb Weston's dividend payout ratio is 54.68%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Lamb Weston from $67.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, December 12th. Deutsche Bank Aktiengesellschaft reduced their target price on Lamb Weston from $61.00 to $49.00 and set a "hold" rating for the company in a report on Monday, December 22nd. Bank of America decreased their price target on Lamb Weston from $66.00 to $53.00 and set a "neutral" rating on the stock in a research report on Monday, December 22nd. Sanford C. Bernstein restated a "market perform" rating and issued a $46.00 price objective on shares of Lamb Weston in a research report on Monday, December 29th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Lamb Weston in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $53.00.

Lamb Weston 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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