Bank of New York Mellon Corp Cuts Stock Holdings in Lamb Weston (NYSE:LW)

Bank of New York Mellon Corp lowered its holdings in shares of Lamb Weston (NYSE:LW - Free Report) by 24.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 705,458 shares of the specialty retailer's stock after selling 228,546 shares during the period. Bank of New York Mellon Corp owned approximately 0.50% of Lamb Weston worth $37,601,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LW. Sei Investments Co. lifted its stake in shares of Lamb Weston by 10.3% in the fourth quarter. Sei Investments Co. now owns 116,036 shares of the specialty retailer's stock worth $7,755,000 after buying an additional 10,855 shares in the last quarter. Atlas FRM LLC bought a new position in shares of Lamb Weston in the fourth quarter worth approximately $20,383,000. Soviero Asset Management LP bought a new position in shares of Lamb Weston in the fourth quarter worth approximately $3,342,000. Siemens Fonds Invest GmbH bought a new position in shares of Lamb Weston in the fourth quarter worth approximately $823,000. Finally, Keystone Financial Services LLC bought a new position in shares of Lamb Weston in the fourth quarter worth approximately $623,000. Institutional investors own 89.56% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Lamb Weston from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Stifel Nicolaus set a $56.00 price objective on shares of Lamb Weston and gave the company a "hold" rating in a report on Thursday, April 24th. Barclays decreased their price objective on shares of Lamb Weston from $69.00 to $61.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Jefferies Financial Group decreased their price objective on shares of Lamb Weston from $80.00 to $75.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Bank of America decreased their price objective on shares of Lamb Weston from $60.00 to $56.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $67.64.

Lamb Weston Stock Performance

LW stock traded down $1.45 during midday trading on Friday, reaching $49.04. 1,089,221 shares of the company's stock traded hands, compared to its average volume of 2,649,415. Lamb Weston has a 52-week low of $47.90 and a 52-week high of $83.98. The stock has a market cap of $6.92 billion, a P/E ratio of 19.21, a PEG ratio of 1.12 and a beta of 0.46. The company has a current ratio of 1.35, a quick ratio of 0.58 and a debt-to-equity ratio of 2.25. The stock's 50-day moving average is $53.02 and its 200 day moving average is $54.94.

Lamb Weston Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 1st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $1.48 annualized dividend and a yield of 3.02%. Lamb Weston's payout ratio is 58.04%.

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.