M&T Bank Corp Purchases 2,828,983 Shares of Lamb Weston $LW

M&T Bank Corp boosted its position in Lamb Weston (NYSE:LW - Free Report) by 45,177.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,835,245 shares of the specialty retailer's stock after buying an additional 2,828,983 shares during the period. M&T Bank Corp owned approximately 2.04% of Lamb Weston worth $118,768,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC increased its position in Lamb Weston by 115.5% in the 3rd quarter. AlphaQuest LLC now owns 446 shares of the specialty retailer's stock valued at $26,000 after buying an additional 239 shares in the last quarter. Quent Capital LLC bought a new stake in Lamb Weston in the 3rd quarter valued at about $29,000. Motco bought a new stake in Lamb Weston in the 3rd quarter valued at about $30,000. Blue Trust Inc. increased its position in Lamb Weston by 333.3% in the 3rd quarter. Blue Trust Inc. now owns 637 shares of the specialty retailer's stock valued at $37,000 after buying an additional 490 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in Lamb Weston in the 4th quarter valued at about $48,000. 89.56% of the stock is owned by institutional investors.

Lamb Weston Stock Performance

LW stock opened at $44.83 on Wednesday. Lamb Weston has a 12-month low of $37.62 and a 12-month high of $67.07. The company has a quick ratio of 0.69, a current ratio of 1.46 and a debt-to-equity ratio of 1.99. The business has a 50 day moving average of $44.05 and a 200-day moving average of $50.50. The firm has a market cap of $6.19 billion, a PE ratio of 20.95, a P/E/G ratio of 6.65 and a beta of 0.49.

Lamb Weston (NYSE:LW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 1st. The specialty retailer reported $0.72 EPS for the quarter, beating 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 quarter in the prior year, the business earned $1.10 earnings per share. Lamb Weston's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Lamb Weston will post 2.85 earnings per share for the current year.

Lamb Weston Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be paid a $0.38 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.52 annualized dividend and a yield of 3.4%. Lamb Weston's dividend payout ratio is presently 71.03%.

Wall Street Analysts Forecast Growth

LW has been the subject of a number of recent research reports. Bank of America decreased their price objective on Lamb Weston from $49.00 to $47.00 and set a "neutral" rating for the company in a report on Thursday, April 2nd. Wells Fargo & Company reduced their target price on Lamb Weston from $54.00 to $46.00 and set an "overweight" rating for the company in a report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on Lamb Weston from $46.00 to $40.00 and set a "hold" rating for the company in a report on Monday, March 30th. BNP Paribas Exane reduced their target price on Lamb Weston from $48.00 to $41.00 and set a "neutral" rating for the company in a report on Thursday, April 2nd. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $46.00 target price on shares of Lamb Weston in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $48.00.

Insider Activity at Lamb Weston

In other news, insider Jan Eli B. Craps acquired 50,000 shares of the company's stock in a transaction that occurred on Friday, February 6th. The shares were acquired at an average price of $48.65 per share, for a total transaction of $2,432,500.00. Following the completion of the purchase, the insider owned 300,000 shares in the company, valued at approximately $14,595,000. This trade represents a 20.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jana Partners Management, Lp acquired 136,000 shares of the company's stock in a transaction that occurred on Tuesday, April 7th. The stock was purchased at an average price of $40.89 per share, for a total transaction of $5,561,040.00. Following the purchase, the director owned 5,148,980 shares of the company's stock, valued at $210,541,792.20. The trade was a 2.71% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 441,000 shares of company stock worth $18,703,290. Insiders own 0.29% of the company's stock.

Lamb Weston 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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