Goodman Financial Corp Purchases 8,438 Shares of Lamb Weston (NYSE:LW)

Key Points

• Goodman Financial Corp has increased its holdings in Lamb Weston by 3.8% for a total of approximately $12.14 million, making it the firm's 23rd largest investment.
• Lamb Weston reported earnings of $0.87 per share, exceeding analysts' expectations of $0.64, with revenue reaching $1.68 billion for the quarter.
• The company has announced a quarterly dividend of $0.37 per share, which represents an annual yield of 2.52%.

Goodman Financial Corp raised its position in Lamb Weston (NYSE:LW - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 227,823 shares of the specialty retailer's stock after acquiring an additional 8,438 shares during the period. Lamb Weston makes up 2.6% of Goodman Financial Corp's investment portfolio, making the stock its 23rd largest holding. Goodman Financial Corp owned 0.16% of Lamb Weston worth $12,143,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Romano Brothers AND Company increased its holdings in shares of Lamb Weston by 1.4% in the 1st quarter. Romano Brothers AND Company now owns 15,260 shares of the specialty retailer's stock valued at $813,000 after purchasing an additional 218 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Lamb Weston by 3.2% in the 4th quarter. Blair William & Co. IL now owns 7,130 shares of the specialty retailer's stock valued at $476,000 after purchasing an additional 219 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Lamb Weston by 2.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,971 shares of the specialty retailer's stock valued at $585,000 after acquiring an additional 219 shares in the last quarter. Norinchukin Bank The increased its holdings in Lamb Weston by 4.0% during the 4th quarter. Norinchukin Bank The now owns 5,873 shares of the specialty retailer's stock valued at $392,000 after acquiring an additional 227 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in Lamb Weston by 4.0% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,984 shares of the specialty retailer's stock valued at $319,000 after acquiring an additional 230 shares in the last quarter. Institutional investors and hedge funds own 89.56% of the company's stock.

Lamb Weston Trading Down 1.9%

LW stock traded down $1.10 during mid-day trading on Friday, reaching $55.97. 1,668,740 shares of the stock traded hands, compared to its average volume of 2,934,611. The company has a current ratio of 1.38, a quick ratio of 0.68 and a debt-to-equity ratio of 2.12. Lamb Weston has a 52-week low of $47.87 and a 52-week high of $83.98. The company has a market cap of $7.80 billion, a P/E ratio of 16.66, a P/E/G ratio of 2.07 and a beta of 0.49. The stock's fifty day moving average is $53.88 and its 200-day moving average is $54.35.

Lamb Weston (NYSE:LW - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The specialty retailer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.23. Lamb Weston had a net margin of 5.54% and a return on equity of 27.99%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business earned $0.78 EPS. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that Lamb Weston will post 3.1 earnings per share for the current year.

Lamb Weston Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 1st will be paid a $0.37 dividend. The ex-dividend date is Friday, August 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.6%. Lamb Weston's dividend payout ratio (DPR) is 58.96%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LW. Jefferies Financial Group dropped their target price 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. Wall Street Zen upgraded shares of Lamb Weston from a "sell" rating to a "hold" rating in a report on Thursday, May 8th. Wells Fargo & Company raised their target price on shares of Lamb Weston from $65.00 to $66.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Barclays lifted their price target on shares of Lamb Weston from $61.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, Stifel Nicolaus set a $56.00 price target on shares of Lamb Weston and gave the stock a "hold" rating in a report on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Lamb Weston presently has an average rating of "Hold" and a consensus target price of $67.40.

Lamb Weston Profile

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.