Assetmark Inc. Boosts Holdings in Lamb Weston (NYSE:LW)

Assetmark Inc. lifted its position in shares of Lamb Weston (NYSE:LW - Free Report) by 838.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,671 shares of the specialty retailer's stock after purchasing an additional 26,510 shares during the period. Assetmark Inc.'s holdings in Lamb Weston were worth $1,581,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Capital Research Global Investors bought a new stake in Lamb Weston in the 4th quarter valued at about $423,270,000. Norges Bank acquired a new position in shares of Lamb Weston in the 4th quarter valued at approximately $96,736,000. JANA Partners Management LP raised its position in shares of Lamb Weston by 22.3% in the 4th quarter. JANA Partners Management LP now owns 7,131,339 shares of the specialty retailer's stock valued at $476,587,000 after buying an additional 1,302,585 shares in the last quarter. Continental Grain Co. acquired a new position in shares of Lamb Weston in the 4th quarter valued at approximately $63,786,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Lamb Weston in the 4th quarter valued at approximately $42,752,000. 89.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LW shares. Wall Street Zen upgraded shares of Lamb Weston from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Bank of America lowered their price objective on shares of Lamb Weston from $60.00 to $56.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. Barclays upped their price objective on shares of Lamb Weston from $61.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Wells Fargo & Company upped their price objective 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 lowered their price objective on shares of Lamb Weston from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $67.40.

Lamb Weston Price Performance

Lamb Weston stock traded down $1.69 during mid-day trading on Thursday, hitting $57.01. 2,605,023 shares of the company traded hands, compared to its average volume of 2,858,852. Lamb Weston has a one year low of $47.87 and a one year high of $83.98. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 2.17 and a beta of 0.46. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.68 and a current ratio of 1.38. The stock has a fifty day moving average price of $53.65 and a 200-day moving average price of $54.44.

Lamb Weston (NYSE:LW - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The specialty retailer reported $0.87 earnings per share (EPS) 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 business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the business posted $0.78 earnings per share. Lamb Weston's revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts predict that Lamb Weston will post 3.1 earnings per share for the current fiscal year.

Lamb Weston Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 1st will be given a dividend of $0.37 per share. The ex-dividend date is Friday, August 1st. This represents a $1.48 annualized dividend and a yield of 2.6%. Lamb Weston's payout ratio is presently 58.96%.

Lamb Weston Company 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.