Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in Lamb Weston (NYSE:LW)

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Lamb Weston (NYSE:LW - Free Report) by 98.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,106 shares of the specialty retailer's stock after selling 312,016 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Lamb Weston were worth $325,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Lamb Weston by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,646,887 shares of the specialty retailer's stock worth $1,112,511,000 after buying an additional 58,066 shares during the last quarter. JANA Partners Management LP lifted its position in Lamb Weston by 22.3% in the fourth quarter. JANA Partners Management LP now owns 7,131,339 shares of the specialty retailer's stock valued at $476,587,000 after purchasing an additional 1,302,585 shares during the period. Capital Research Global Investors acquired a new stake in Lamb Weston in the fourth quarter valued at about $423,270,000. Boston Partners lifted its position in Lamb Weston by 26.8% in the fourth quarter. Boston Partners now owns 3,477,165 shares of the specialty retailer's stock valued at $232,330,000 after purchasing an additional 735,901 shares during the period. Finally, Geode Capital Management LLC lifted its position in Lamb Weston by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,436,604 shares of the specialty retailer's stock valued at $229,065,000 after purchasing an additional 48,548 shares during the period. Hedge funds and other institutional investors own 89.56% of the company's stock.

Lamb Weston Price Performance

Shares of Lamb Weston stock traded up $1.39 during trading on Tuesday, hitting $52.36. 3,604,807 shares of the company were exchanged, compared to its average volume of 2,658,597. The company has a quick ratio of 0.58, a current ratio of 1.35 and a debt-to-equity ratio of 2.25. Lamb Weston has a fifty-two week low of $47.90 and a fifty-two week high of $83.98. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 1.13 and a beta of 0.46. The firm has a 50 day moving average price of $53.14 and a 200 day moving average price of $55.55.

Analyst Ratings Changes

A number of brokerages recently commented on LW. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $57.00 price objective on shares of Lamb Weston in a research report on Wednesday, March 19th. Bank of America reduced their price objective 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. Barclays reduced their price objective on shares of Lamb Weston from $69.00 to $61.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Wells Fargo & Company reduced their price target on shares of Lamb Weston from $72.00 to $66.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, Stifel Nicolaus set a $56.00 price target on shares of Lamb Weston and gave the company a "hold" rating in a research report on Thursday, April 24th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $67.73.

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.