Envestnet Asset Management Inc. Grows Holdings in Lamb Weston (NYSE:LW)

Envestnet Asset Management Inc. raised its stake in shares of Lamb Weston (NYSE:LW - Free Report) by 23.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 723,215 shares of the specialty retailer's stock after buying an additional 135,188 shares during the quarter. Envestnet Asset Management Inc. owned about 0.51% of Lamb Weston worth $38,547,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Wayfinding Financial LLC purchased a new stake in Lamb Weston during the 1st quarter valued at $28,000. Whipplewood Advisors LLC lifted its holdings in shares of Lamb Weston by 3,466.7% during the first quarter. Whipplewood Advisors LLC now owns 535 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 520 shares in the last quarter. Putney Financial Group LLC bought a new position in shares of Lamb Weston during the fourth quarter valued at $34,000. CX Institutional purchased a new stake in shares of Lamb Weston during the first quarter valued at $48,000. Finally, Acuitas Investments LLC increased its holdings in Lamb Weston by 239.3% in the 1st quarter. Acuitas Investments LLC now owns 950 shares of the specialty retailer's stock worth $51,000 after buying an additional 670 shares in the last quarter. 89.56% of the stock is owned by institutional investors.

Lamb Weston Stock Performance

Lamb Weston stock traded down $0.22 during trading on Monday, reaching $51.10. The company had a trading volume of 2,510,626 shares, compared to its average volume of 2,355,166. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.14 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 firm's 50-day simple moving average is $53.09 and its 200 day simple moving average is $55.23. Lamb Weston has a 52 week low of $47.90 and a 52 week high of $83.98.

Analysts Set New Price Targets

Several equities analysts have issued reports on LW shares. Bank of America lowered 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 note on Wednesday, June 18th. Stifel Nicolaus set a $56.00 price objective on shares of Lamb Weston and gave the company a "hold" rating in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $57.00 target price on shares of Lamb Weston in a research report on Wednesday, March 19th. Jefferies Financial Group dropped their price target on Lamb Weston from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company reduced their price objective on Lamb Weston from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 9th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $67.64.

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.