Resona Asset Management Co. Ltd. Lowers Position in Lamb Weston $LW

Key Points

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Resona Asset Management Co. Ltd. lessened its stake in Lamb Weston (NYSE:LW - Free Report) by 96.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,395 shares of the specialty retailer's stock after selling 41,371 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Lamb Weston were worth $75,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Romano Brothers AND Company raised its stake in shares of Lamb Weston by 1.4% during the 1st quarter. Romano Brothers AND Company now owns 15,260 shares of the specialty retailer's stock worth $813,000 after buying an additional 218 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of 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 buying an additional 219 shares during the period. Norinchukin Bank The raised its stake in shares of 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 buying an additional 227 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of 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 buying an additional 230 shares during the period. Finally, Snowden Capital Advisors LLC raised its stake in shares of 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 buying an additional 256 shares during the period. Hedge funds and other institutional investors own 89.56% of the company's stock.

Wall Street Analyst Weigh In

LW has been the subject of several research analyst reports. Wall Street Zen raised Lamb Weston from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Wells Fargo & Company upped their target price on Lamb Weston from $65.00 to $66.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Stifel Nicolaus set a $56.00 price objective on Lamb Weston and gave the company a "hold" rating in a research note on Thursday, April 24th. Barclays increased their price objective on Lamb Weston from $61.00 to $68.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Bank of America reduced their price objective on Lamb Weston from $60.00 to $56.00 and set a "neutral" rating for the company in a research note on Wednesday, June 18th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lamb Weston presently has an average rating of "Hold" and a consensus target price of $67.40.

Lamb Weston Stock Up 0.3%

NYSE LW opened at $54.31 on Tuesday. Lamb Weston has a one year low of $47.87 and a one year high of $83.98. The company has a market cap of $7.57 billion, a P/E ratio of 21.64, a P/E/G ratio of 2.15 and a beta of 0.49. The business has a fifty day moving average price of $53.59 and a 200 day moving average price of $53.73. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.68 and a current ratio of 1.38.

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

Lamb Weston Announces Dividend

The business also recently announced 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 of this dividend is Friday, August 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.7%. Lamb Weston's dividend payout ratio (DPR) is 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.

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