Sumitomo Mitsui Trust Group Inc. Sells 312,016 Shares of Lamb Weston (NYSE:LW)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Lamb Weston (NYSE:LW - Free Report) by 98.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,106 shares of the specialty retailer's stock after selling 312,016 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Lamb Weston were worth $325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in shares of Lamb Weston by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,229,600 shares of the specialty retailer's stock worth $82,174,000 after buying an additional 16,092 shares during the last quarter. Marathon Trading Investment Management LLC bought a new position in shares of Lamb Weston during the fourth quarter worth about $796,000. Sei Investments Co. lifted its position in shares of Lamb Weston by 10.3% in the 4th quarter. Sei Investments Co. now owns 116,036 shares of the specialty retailer's stock worth $7,755,000 after purchasing an additional 10,855 shares during the period. Atlas FRM LLC acquired a new stake in Lamb Weston during the 4th quarter worth about $20,383,000. Finally, Soviero Asset Management LP bought a new stake in Lamb Weston in the fourth quarter worth approximately $3,342,000. 89.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $57.00 price objective on shares of Lamb Weston in a research note on Wednesday, March 19th. Barclays cut their target price on Lamb Weston from $69.00 to $61.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Wells Fargo & Company decreased their price target on shares of Lamb Weston from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday. Wall Street Zen raised shares of Lamb Weston from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Bank of America decreased their price target 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. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $67.64.

Lamb Weston Price Performance

Shares of Lamb Weston stock traded down $1.06 during trading on Wednesday, hitting $51.28. The stock had a trading volume of 1,879,933 shares, compared to its average volume of 2,655,717. The company has a current ratio of 1.35, a quick ratio of 0.58 and a debt-to-equity ratio of 2.25. Lamb Weston has a 12 month low of $47.90 and a 12 month high of $83.98. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.13 and a beta of 0.46. The business's 50-day moving average is $53.14 and its 200 day moving average is $55.55.

Lamb Weston Company 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.