Fifth Third Bancorp Acquires 45,790 Shares of Lamb Weston $LW

Key Points

• Fifth Third Bancorp boosted its Lamb Weston stake by 627.7% in the first quarter, buying 45,790 additional shares and bringing its total holding to 53,085 shares worth about $2.24 million.
• Several other institutional investors also increased or adjusted their positions, and institutional ownership remains high at 89.56% of Lamb Weston’s stock.
• Analysts are largely cautious on LW: the stock has a consensus rating of “Hold” with an average price target of $49.27, while recent target changes were mixed between neutral, hold, and overweight views.

Fifth Third Bancorp increased its holdings in shares of Lamb Weston (NYSE:LW - Free Report) by 627.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,085 shares of the specialty retailer's stock after acquiring an additional 45,790 shares during the quarter. Fifth Third Bancorp's holdings in Lamb Weston were worth $2,243,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its stake in shares of Lamb Weston by 11.4% during the 1st quarter. Hsbc Holdings PLC now owns 525,541 shares of the specialty retailer's stock worth $21,762,000 after buying an additional 53,655 shares during the last quarter. Bernzott Capital Advisors raised its holdings in Lamb Weston by 22.2% in the 1st quarter. Bernzott Capital Advisors now owns 144,260 shares of the specialty retailer's stock valued at $6,096,000 after acquiring an additional 26,207 shares during the period. Money Concepts Capital Corp lifted its position in Lamb Weston by 1.9% during the first quarter. Money Concepts Capital Corp now owns 42,392 shares of the specialty retailer's stock worth $1,791,000 after acquiring an additional 774 shares during the last quarter. Greenwood Capital Associates LLC lifted its position in Lamb Weston by 43.1% during the first quarter. Greenwood Capital Associates LLC now owns 42,106 shares of the specialty retailer's stock worth $1,779,000 after acquiring an additional 12,678 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Lamb Weston by 99.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 31,800 shares of the specialty retailer's stock worth $1,344,000 after acquiring an additional 15,860 shares during the period. Institutional investors own 89.56% of the company's stock.

Lamb Weston Trading Up 1.3%

NYSE LW opened at $47.19 on Wednesday. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 6.19 and a beta of 0.47. Lamb Weston has a twelve month low of $37.62 and a twelve month high of $67.07. The company has a quick ratio of 0.69, a current ratio of 1.46 and a debt-to-equity ratio of 1.99. The business's fifty day moving average is $44.35 and its 200 day moving average is $44.12.

Analysts Set New Price Targets

Several analysts recently weighed in on LW shares. Bank of America dropped their price target on Lamb Weston from $49.00 to $47.00 and set a "neutral" rating for the company in a report on Thursday, April 2nd. JPMorgan Chase & Co. increased their price objective on Lamb Weston from $43.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Stifel Nicolaus dropped their target price on Lamb Weston from $50.00 to $45.00 and set a "hold" rating for the company in a report on Thursday, April 2nd. Wells Fargo & Company upped their price target on shares of Lamb Weston from $46.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Lamb Weston in a research report on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $49.27.

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.

Want to see what other hedge funds are holding LW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lamb Weston (NYSE:LW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.