Legal & General Group Plc Sells 25,956 Shares of Lamb Weston $LW

Key Points

• Legal & General Group Plc cut its Lamb Weston stake by 9.3% in the fourth quarter, selling 25,956 shares and leaving it with 252,674 shares worth about $10.6 million.
• Lamb Weston reported better-than-expected quarterly results, posting EPS of $0.72 versus the $0.61 estimate and revenue of $1.56 billion versus the $1.49 billion consensus, though sales were still only up 2.9% year over year.
• The company declared a quarterly dividend of $0.38 per share, implying a 3.6% annualized yield, while analysts currently rate the stock a consensus Hold with an average target price of $47.82.

Legal & General Group Plc reduced its holdings in Lamb Weston (NYSE:LW - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 252,674 shares of the specialty retailer's stock after selling 25,956 shares during the quarter. Legal & General Group Plc owned about 0.18% of Lamb Weston worth $10,585,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LW. AlphaQuest LLC grew its position in shares of Lamb Weston by 115.5% in the 3rd quarter. AlphaQuest LLC now owns 446 shares of the specialty retailer's stock worth $26,000 after buying an additional 239 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of Lamb Weston by 380.7% in the 4th quarter. Hantz Financial Services Inc. now owns 721 shares of the specialty retailer's stock worth $30,000 after buying an additional 571 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Lamb Weston in the 4th quarter worth approximately $48,000. Stance Capital LLC bought a new stake in shares of Lamb Weston in the 3rd quarter worth approximately $51,000. Finally, Tema Etfs LLC bought a new stake in shares of Lamb Weston in the 4th quarter worth approximately $51,000. 89.56% of the stock is currently owned by institutional investors.

Lamb Weston Trading Up 0.8%

Lamb Weston stock opened at $41.94 on Thursday. The company has a current ratio of 1.46, a quick ratio of 0.69 and a debt-to-equity ratio of 1.99. The business's fifty day simple moving average is $42.46 and its two-hundred day simple moving average is $46.33. Lamb Weston has a 12 month low of $37.62 and a 12 month high of $67.07. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 5.54 and a beta of 0.47.

Lamb Weston (NYSE:LW - Get Free Report) last released its earnings results on Wednesday, April 1st. The specialty retailer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.61 by $0.11. Lamb Weston had a return on equity of 23.77% and a net margin of 4.61%.The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the company posted $1.10 earnings per share. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts predict that Lamb Weston will post 2.85 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, June 5th. Shareholders of record on Friday, May 8th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, May 8th. Lamb Weston's payout ratio is 71.03%.

Insider Buying and Selling at Lamb Weston

In related news, Director Jana Partners Management, Lp bought 50,000 shares of the company's stock in a transaction on Wednesday, April 15th. The shares were acquired at an average cost of $43.19 per share, with a total value of $2,159,500.00. Following the completion of the acquisition, the director owned 5,398,980 shares of the company's stock, valued at $233,181,946.20. The trade was a 0.93% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter J. Bensen bought 5,000 shares of the company's stock in a transaction on Monday, April 6th. The stock was bought at an average cost of $39.45 per share, for a total transaction of $197,250.00. Following the completion of the acquisition, the director directly owned 17,204 shares of the company's stock, valued at approximately $678,697.80. This represents a 40.97% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 391,000 shares of company stock worth $16,270,790 over the last three months. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

LW has been the subject of a number of research analyst reports. Stephens initiated coverage on Lamb Weston in a research note on Wednesday, May 27th. They issued an "equal weight" rating and a $46.00 target price for the company. BNP Paribas Exane lowered their target price on Lamb Weston from $48.00 to $41.00 and set a "neutral" rating for the company in a research note on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on Lamb Weston from $46.00 to $40.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Wells Fargo & Company lowered their target price on Lamb Weston from $54.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, April 2nd. Finally, Zacks Research upgraded Lamb Weston from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $47.82.

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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