Lamb Weston (NYSE:LW) Shares Bought by Allianz SE

Key Points

• Allianz SE significantly increased its stake in Lamb Weston by 266.4% during the first quarter, holding 9,161 shares valued at $488,000 by the end of the reporting period.
• Lamb Weston reported earnings of $0.87 per share for the latest quarter, exceeding expectations and representing a 4.0% increase in revenue year-over-year to $1.68 billion.
• The company announced a quarterly dividend of $0.37 per share, equating to an annual yield of 2.6%, with the dividend set to be paid on August 29th.

Allianz SE boosted its stake in shares of Lamb Weston (NYSE:LW - Free Report) by 266.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,161 shares of the specialty retailer's stock after purchasing an additional 6,661 shares during the period. Allianz SE's holdings in Lamb Weston were worth $488,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Romano Brothers AND Company lifted its position in Lamb Weston by 1.4% in the first quarter. Romano Brothers AND Company now owns 15,260 shares of the specialty retailer's stock valued at $813,000 after buying an additional 218 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Lamb Weston by 2.0% in the first 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 buying an additional 219 shares during the last quarter. Norinchukin Bank The lifted its position in Lamb Weston by 4.0% in the fourth quarter. Norinchukin Bank The now owns 5,873 shares of the specialty retailer's stock valued at $392,000 after buying an additional 227 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in Lamb Weston by 4.0% in the first quarter. Concurrent Investment Advisors LLC now owns 5,984 shares of the specialty retailer's stock valued at $319,000 after buying an additional 230 shares during the last quarter. Finally, Snowden Capital Advisors LLC lifted its position in Lamb Weston by 8.2% in the fourth quarter. Snowden Capital Advisors LLC now owns 3,393 shares of the specialty retailer's stock valued at $227,000 after buying an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 89.56% of the company's stock.

Lamb Weston Stock Down 2.8%

NYSE:LW traded down $1.53 during mid-day trading on Tuesday, hitting $53.11. The stock had a trading volume of 1,948,374 shares, compared to its average volume of 3,012,873. The stock has a 50-day simple moving average of $53.95 and a two-hundred day simple moving average of $54.27. The company has a market capitalization of $7.40 billion, a PE ratio of 21.16, a PEG ratio of 2.08 and a beta of 0.49. Lamb Weston has a twelve month low of $47.87 and a twelve month high of $83.98. 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 (NYSE:LW - Get Free Report) last issued its earnings results 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. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.59 billion. Lamb Weston had a net margin of 5.54% and a return on equity of 27.99%. The firm's revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. On average, equities research analysts anticipate that Lamb Weston will post 3.1 EPS for the current year.

Lamb Weston Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $1.48 dividend on an annualized basis and a yield of 2.8%. Lamb Weston's dividend payout ratio (DPR) is presently 58.96%.

Analysts Set New Price Targets

LW has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of Lamb Weston from $61.00 to $68.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Wall Street Zen raised shares of Lamb Weston from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Bank of America reduced their price target on shares of Lamb Weston from $60.00 to $56.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Wells Fargo & Company increased their price target on shares of Lamb Weston from $65.00 to $66.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Jefferies Financial Group reduced their price target on shares of Lamb Weston from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Lamb Weston presently has a consensus rating of "Hold" and an average 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.