Atria Wealth Solutions Inc. Raises Stock Holdings in Lamb Weston (NYSE:LW)

Key Points

• Atria Wealth Solutions Inc. boosted its stake in Lamb Weston by 22.7%, acquiring an additional 9,699 shares to own a total of 52,347 shares valued at approximately $2.79 million.
• Lamb Weston recently reported earnings of $0.87 per share, exceeding estimates, with quarterly revenue hitting $1.68 billion, a 4% increase from the previous year.
• The company announced a quarterly dividend of $0.37, translating to an annual yield of 2.9%, with a payout ratio of 58.96%.

Atria Wealth Solutions Inc. grew its position in Lamb Weston (NYSE:LW - Free Report) by 22.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,347 shares of the specialty retailer's stock after buying an additional 9,699 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Lamb Weston were worth $2,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LW. Putney Financial Group LLC acquired a new position in Lamb Weston during the 4th quarter worth approximately $34,000. Wayfinding Financial LLC bought a new stake in Lamb Weston during the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in Lamb Weston during the 1st quarter worth approximately $28,000. Whipplewood Advisors LLC grew its holdings in Lamb Weston by 3,466.7% during the 1st quarter. Whipplewood Advisors LLC now owns 535 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 520 shares during the last quarter. Finally, CX Institutional bought a new stake in shares of Lamb Weston in the 1st quarter valued at $48,000. 89.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LW has been the topic of a number of analyst reports. Barclays upped their price objective on shares of Lamb Weston from $61.00 to $68.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Stifel Nicolaus set a $56.00 target price on shares of Lamb Weston and gave the company a "hold" rating in a research report on Thursday, April 24th. Bank of America dropped their target price on shares of Lamb Weston from $60.00 to $56.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Wall Street Zen upgraded shares of Lamb Weston from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company boosted their target price on shares of Lamb Weston from $65.00 to $66.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $67.40.

Lamb Weston Stock Down 1.3%

Shares of LW stock traded down $0.66 during mid-day trading on Friday, reaching $51.46. 1,064,727 shares of the company's stock traded hands, compared to its average volume of 2,768,497. Lamb Weston has a 12 month low of $47.87 and a 12 month high of $83.98. The company has a market cap of $7.17 billion, a P/E ratio of 20.50, a P/E/G ratio of 2.04 and a beta of 0.49. The company has a quick ratio of 0.68, a current ratio of 1.38 and a debt-to-equity ratio of 2.12. The company's 50-day moving average price is $53.78 and its 200-day moving average price is $54.03.

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

Lamb Weston Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 1st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, August 1st. Lamb Weston's payout ratio is currently 58.96%.

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.