Mitsubishi UFJ Asset Management Co. Ltd. Sells 107,923 Shares of Lamb Weston (NYSE:LW)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. reduced its holdings in Lamb Weston by 46.3%, selling 107,923 shares and owning 124,936 shares valued at approximately $6.66 million.
• Analysts have given Lamb Weston a consensus rating of "Hold", with target prices ranging from $56.00 to $68.00.
• Lamb Weston recently announced a quarterly dividend of $0.37 per share, representing an annual yield of 2.9% on an annualized basis.

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its position in Lamb Weston (NYSE:LW - Free Report) by 46.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 124,936 shares of the specialty retailer's stock after selling 107,923 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.09% of Lamb Weston worth $6,659,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Romano Brothers AND Company lifted its stake in shares of Lamb Weston by 1.4% in the 1st quarter. Romano Brothers AND Company now owns 15,260 shares of the specialty retailer's stock valued at $813,000 after acquiring an additional 218 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Lamb Weston by 2.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,971 shares of the specialty retailer's stock worth $585,000 after purchasing an additional 219 shares during the last quarter. Norinchukin Bank The raised its position in Lamb Weston by 4.0% during the 4th quarter. Norinchukin Bank The now owns 5,873 shares of the specialty retailer's stock worth $392,000 after purchasing an additional 227 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in Lamb Weston by 4.0% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,984 shares of the specialty retailer's stock worth $319,000 after purchasing an additional 230 shares during the last quarter. Finally, Snowden Capital Advisors LLC raised its position in Lamb Weston by 8.2% during the 4th quarter. Snowden Capital Advisors LLC now owns 3,393 shares of the specialty retailer's stock worth $227,000 after purchasing an additional 256 shares during the last quarter. 89.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LW shares. Wall Street Zen raised Lamb Weston from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Stifel Nicolaus set a $56.00 target price on Lamb Weston and gave the stock a "hold" rating in a research report on Thursday, April 24th. Barclays raised their target price on 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 raised their target price on Lamb Weston from $65.00 to $66.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Bank of America lowered their price objective on Lamb Weston from $60.00 to $56.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $67.40.

Lamb Weston Stock Performance

Shares of LW opened at $51.65 on Tuesday. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.38 and a quick ratio of 0.68. The stock has a 50-day moving average of $53.72 and a 200-day moving average of $53.97. The company has a market cap of $7.20 billion, a PE ratio of 20.58, a P/E/G ratio of 2.04 and a beta of 0.49. Lamb Weston has a one year low of $47.87 and a one year high of $83.98.

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

Lamb Weston Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, August 1st. This represents a $1.48 dividend on an annualized basis and a yield of 2.9%. Lamb Weston's payout ratio is 58.96%.

About Lamb Weston

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.

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