TD Asset Management Inc Reduces Stock Holdings in Lamb Weston (NYSE:LW)

TD Asset Management Inc trimmed its stake in shares of Lamb Weston (NYSE:LW - Free Report) by 36.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,234 shares of the specialty retailer's stock after selling 14,204 shares during the quarter. TD Asset Management Inc's holdings in Lamb Weston were worth $1,345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Assetmark Inc. lifted its stake in shares of Lamb Weston by 838.7% in the first quarter. Assetmark Inc. now owns 29,671 shares of the specialty retailer's stock valued at $1,581,000 after buying an additional 26,510 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Lamb Weston by 15.6% in the first quarter. Cetera Investment Advisers now owns 66,536 shares of the specialty retailer's stock valued at $3,546,000 after purchasing an additional 8,959 shares during the last quarter. Advisor OS LLC raised its holdings in shares of Lamb Weston by 69.1% in the first quarter. Advisor OS LLC now owns 14,072 shares of the specialty retailer's stock valued at $750,000 after purchasing an additional 5,749 shares during the last quarter. AE Wealth Management LLC raised its holdings in shares of Lamb Weston by 9.0% in the first quarter. AE Wealth Management LLC now owns 4,210 shares of the specialty retailer's stock valued at $224,000 after purchasing an additional 349 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Lamb Weston in the first quarter valued at about $1,436,000. 89.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Jefferies Financial Group decreased 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 note on Friday, April 11th. Stifel Nicolaus set a $56.00 target price on shares of Lamb Weston and gave the stock a "hold" rating in a research note on Thursday, April 24th. Wall Street Zen raised shares of Lamb Weston from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Barclays boosted their price objective 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. Finally, Wells Fargo & Company boosted their price objective on shares of Lamb Weston from $65.00 to $66.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $67.40.

Lamb Weston Stock Performance

Lamb Weston stock traded down $1.53 during mid-day trading on Tuesday, hitting $53.11. The company had a trading volume of 1,948,374 shares, compared to its average volume of 3,012,873. 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 12-month low of $47.87 and a 12-month high of $83.98. The company's fifty day moving average is $53.95 and its 200-day moving average is $54.27. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 2.08 and a beta of 0.49.

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

Lamb Weston Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders 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 yield of 2.8%. Lamb Weston's payout ratio is currently 58.96%.

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.