Lamb Weston $LW Shares Bought by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its Lamb Weston stake by 349.1% in the first quarter, buying an additional 536,745 shares and bringing its total to 690,493 shares worth about $29.2 million.
• Other institutional investors also made sizable moves in LW, and the stock is now 89.56% owned by hedge funds and other institutions, highlighting heavy professional ownership.
• Analysts are cautious on Lamb Weston overall: the consensus rating is Hold with a consensus price target of $48.91, while several firms recently cut their targets and one reiterated a sell rating.

Principal Financial Group Inc. grew its position in shares of Lamb Weston (NYSE:LW - Free Report) by 349.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 690,493 shares of the specialty retailer's stock after purchasing an additional 536,745 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Lamb Weston worth $29,180,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in LW. Norges Bank acquired a new position in Lamb Weston during the fourth quarter worth approximately $125,662,000. M&T Bank Corp boosted its holdings in shares of Lamb Weston by 45,177.0% in the fourth quarter. M&T Bank Corp now owns 2,835,245 shares of the specialty retailer's stock valued at $118,768,000 after acquiring an additional 2,828,983 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Lamb Weston by 27.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,824,690 shares of the specialty retailer's stock valued at $411,558,000 after acquiring an additional 2,111,874 shares during the period. Ion Asset Management Ltd. purchased a new position in shares of Lamb Weston during the second quarter worth approximately $84,379,000. Finally, SG Americas Securities LLC increased its holdings in shares of Lamb Weston by 2,682.3% in the 4th quarter. SG Americas Securities LLC now owns 801,708 shares of the specialty retailer's stock valued at $33,584,000 after acquiring an additional 772,893 shares during the period. 89.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lamb Weston from $46.00 to $40.00 and set a "hold" rating for the company in a research report on Monday, March 30th. Weiss Ratings restated a "sell (d+)" rating on shares of Lamb Weston in a research note on Wednesday, July 8th. Barclays reduced their target price on shares of Lamb Weston from $55.00 to $46.00 and set an "overweight" rating for the company in a report on Thursday, April 2nd. Stephens assumed coverage on shares of Lamb Weston in a research note on Wednesday, May 27th. They set an "equal weight" rating and a $46.00 target price for the company. Finally, BNP Paribas Exane lowered their price target on Lamb Weston from $48.00 to $41.00 and set a "neutral" rating on the stock in a report on Thursday, April 2nd. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $48.91.

Lamb Weston Price Performance

Shares of NYSE LW opened at $46.74 on Monday. The stock has a fifty day moving average price of $44.11 and a 200 day moving average price of $44.06. Lamb Weston has a 1-year low of $37.62 and a 1-year high of $67.07. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.46 and a quick ratio of 0.69. The company has a market cap of $6.45 billion, a PE ratio of 21.84, a P/E/G ratio of 6.21 and a beta of 0.47.

Lamb Weston Company 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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