Bank of America Corp DE Trims Stock Position in Lamb Weston $LW

Key Points

• Bank of America cut its Lamb Weston position by 25.2% in the first quarter, selling 271,645 shares and retaining 807,512 shares worth approximately $34.1 million. Institutional investors collectively own 89.56% of the company.
• Analysts remain cautious, with Lamb Weston carrying a consensus “Hold” rating and an average price target of $53.36, despite several firms recently raising their targets.
• Lamb Weston exceeded quarterly expectations with $0.87 in earnings per share and $1.77 billion in revenue, while announcing a quarterly dividend of $0.38 per share, equivalent to a 2.9% yield.

Bank of America Corp DE cut its holdings in shares of Lamb Weston (NYSE:LW - Free Report) by 25.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 807,512 shares of the specialty retailer's stock after selling 271,645 shares during the period. Bank of America Corp DE owned about 0.58% of Lamb Weston worth $34,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. MCF Advisors LLC boosted its stake in shares of Lamb Weston by 44.2% in the fourth quarter. MCF Advisors LLC now owns 649 shares of the specialty retailer's stock worth $27,000 after buying an additional 199 shares during the last quarter. Hantz Financial Services Inc. raised its position in Lamb Weston by 380.7% during the fourth quarter. Hantz Financial Services Inc. now owns 721 shares of the specialty retailer's stock valued at $30,000 after acquiring an additional 571 shares in the last quarter. Transamerica Financial Advisors LLC raised its position in Lamb Weston by 121.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,130 shares of the specialty retailer's stock valued at $47,000 after acquiring an additional 619 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in Lamb Weston by 4,512.0% in the first quarter. SJS Investment Consulting Inc. now owns 1,153 shares of the specialty retailer's stock valued at $49,000 after acquiring an additional 1,128 shares during the period. Finally, Danske Bank A S purchased a new stake in Lamb Weston in the 3rd quarter worth approximately $52,000. 89.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Lamb Weston from $43.00 to $48.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Wall Street Zen upgraded shares of Lamb Weston from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Stephens increased their price target on shares of Lamb Weston from $46.00 to $55.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 28th. Wells Fargo & Company raised their price target on shares of Lamb Weston from $54.00 to $57.00 and gave the company an "overweight" rating in a research report on Monday, July 27th. Finally, Barclays increased their target price on shares of Lamb Weston from $50.00 to $56.00 and gave the stock an "overweight" rating in a research note on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Lamb Weston presently has a consensus rating of "Hold" and an average price target of $53.36.

Lamb Weston Price Performance

NYSE:LW opened at $53.16 on Friday. Lamb Weston has a 52 week low of $37.62 and a 52 week high of $67.07. The company has a quick ratio of 0.74, a current ratio of 1.42 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $7.31 billion, a P/E ratio of 25.56, a P/E/G ratio of 2.40 and a beta of 0.46. The stock's fifty day moving average is $47.86 and its two-hundred day moving average is $45.36.

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

Lamb Weston Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 7th. Lamb Weston's dividend payout ratio (DPR) is 73.08%.

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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