Bank of America Corp DE Sells 558,469 Shares of Lamb Weston $LW

Key Points

• Bank of America cut its Lamb Weston stake by 69.2% in the second quarter, selling 558,469 shares and retaining 249,043 shares worth approximately $10.8 million. Institutional investors and hedge funds collectively own 89.56% of the company.
• Lamb Weston reported quarterly EPS of $0.87, beating estimates of $0.63, while revenue reached $1.77 billion, up 5.6% year over year. The company also pays a $0.38 quarterly dividend, equivalent to a 3.5% yield.
• The stock recently opened at $43.58, well below its 52-week high of $67.07. Analysts maintain a consensus “Hold” rating with an average price target of $53.36.

Bank of America Corp DE reduced its stake in Lamb Weston (NYSE:LW - Free Report) by 69.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 249,043 shares of the specialty retailer's stock after selling 558,469 shares during the period. Bank of America Corp DE owned 0.18% of Lamb Weston worth $10,754,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Freestone Grove Partners LP bought a new stake in shares of Lamb Weston in the 2nd quarter valued at $12,265,000. Man Group plc bought a new stake in Lamb Weston in the 2nd quarter valued at $963,000. Jupiter Topco LLC bought a new stake in Lamb Weston in the 2nd quarter valued at $21,560,000. Kintayl Capital LP acquired a new position in Lamb Weston in the 2nd quarter worth $1,482,000. Finally, Hsbc Holdings PLC acquired a new position in Lamb Weston in the 2nd quarter worth $8,193,000. 89.56% of the stock is owned by institutional investors and hedge funds.

Lamb Weston Stock Down 1.8%

Lamb Weston stock opened at $43.58 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.42 and a quick ratio of 0.74. The company's 50-day moving average is $50.85 and its 200-day moving average is $45.90. The firm has a market capitalization of $5.99 billion, a PE ratio of 20.95, a P/E/G ratio of 1.94 and a beta of 0.47. Lamb Weston has a fifty-two week low of $37.62 and a fifty-two week high of $67.07.

Lamb Weston (NYSE:LW - Get Free Report) last issued its earnings results on Friday, July 24th. The specialty retailer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.24. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.70 billion. Lamb Weston had a net margin of 4.39% and a return on equity of 23.33%. Lamb Weston's revenue was up 5.6% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. Lamb Weston has set its FY 2027 guidance at 2.950-3.250 EPS. Sell-side analysts anticipate that Lamb Weston will post 3.06 earnings per share for the current year.

Lamb Weston Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 7th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, August 7th. Lamb Weston's payout ratio is currently 73.08%.

Analyst Ratings Changes

Several research firms have issued reports on LW. Stephens lifted their price target on Lamb Weston from $46.00 to $55.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $52.00 price objective on shares of Lamb Weston in a research report on Monday, July 27th. Weiss Ratings upgraded Lamb Weston from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 28th. TD Cowen lifted their target price on Lamb Weston from $40.00 to $52.00 and gave the company a "hold" rating in a research report on Tuesday, July 28th. Finally, Sanford C. Bernstein boosted their target price on Lamb Weston from $42.00 to $57.00 and gave the company a "market perform" rating in a research note on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $53.36.

Lamb Weston Profile

Lamb Weston Holdings, Inc NYSE: LW is a food company that produces and distributes frozen potato products. Its portfolio includes frozen french fries, potato wedges, hash browns, tater tots, mashed potatoes, sweet potato products and other specialty potato items.

The company serves restaurants, foodservice distributors, retailers and food manufacturers. Its products are sold under the Lamb Weston, Grown in Idaho and Alexia brands, as well as through private-label and customer-specific offerings.

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