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. reduced its position in Lamb Weston (NYSE:LW - Free Report) by 46.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,936 shares of the specialty retailer's stock after selling 107,923 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.09% of Lamb Weston worth $6,659,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LW. Charles Schwab Investment Management Inc. increased its holdings in shares of Lamb Weston by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,243,560 shares of the specialty retailer's stock worth $66,282,000 after buying an additional 13,960 shares during the last quarter. ASR Vermogensbeheer N.V. purchased a new stake in Lamb Weston during the first quarter valued at about $199,000. Vanguard Group Inc. raised its position in Lamb Weston by 2.6% during the first quarter. Vanguard Group Inc. now owns 17,072,932 shares of the specialty retailer's stock valued at $909,987,000 after purchasing an additional 426,045 shares in the last quarter. Atria Wealth Solutions Inc. lifted its stake in Lamb Weston by 22.7% during the first quarter. Atria Wealth Solutions Inc. now owns 52,347 shares of the specialty retailer's stock worth $2,790,000 after purchasing an additional 9,699 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Lamb Weston by 12.7% in the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 58,017 shares of the specialty retailer's stock worth $3,092,000 after purchasing an additional 6,548 shares in the last quarter. Hedge funds and other institutional investors own 89.56% of the company's stock.

Lamb Weston Stock Down 1.2%

LW traded down $0.66 during trading on Friday, reaching $54.17. The stock had a trading volume of 1,093,980 shares, compared to its average volume of 2,604,738. The company has a current ratio of 1.38, a quick ratio of 0.68 and a debt-to-equity ratio of 2.12. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 2.17 and a beta of 0.49. The stock's 50 day moving average is $53.62 and its two-hundred day moving average is $53.87. 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 announced its quarterly earnings data on Wednesday, July 23rd. The specialty retailer reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The business's revenue was up 4.0% compared to the same quarter last year. As a group, analysts expect that Lamb Weston will post 3.1 earnings per share for the current year.

Lamb Weston Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 1st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, August 1st. Lamb Weston's dividend payout ratio (DPR) is presently 58.96%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LW. Stifel Nicolaus set a $56.00 target price on 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 report on Thursday, May 8th. Wells Fargo & Company lifted their target price 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. Bank of America cut their price target 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. Finally, Barclays lifted their price objective on Lamb Weston from $61.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Lamb Weston currently has a consensus rating of "Hold" and a consensus price target 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.