Sumitomo Mitsui Trust Group Inc. Cuts Stock Holdings in Lamb Weston (NYSE:LW)

Sumitomo Mitsui Trust Group Inc. decreased its stake 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 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.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC increased its position in shares of Lamb Weston by 3,466.7% during the 1st quarter. Whipplewood Advisors LLC now owns 535 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 520 shares during the last quarter. Putney Financial Group LLC purchased a new stake in shares of Lamb Weston during the 4th quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Lamb Weston during the 4th quarter valued at $36,000. CX Institutional purchased a new stake in shares of Lamb Weston during the 1st quarter valued at $48,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Lamb Weston during the 4th quarter valued at $78,000. 89.56% of the stock is owned by hedge funds and other institutional investors.

Lamb Weston Price Performance

LW stock traded down $1.07 during mid-day trading on Wednesday, reaching $51.27. 2,880,063 shares of the company traded hands, compared to its average volume of 2,656,224. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.35 and a quick ratio of 0.58. The company has a market capitalization of $7.24 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.16 and a beta of 0.46. Lamb Weston has a 52-week low of $47.90 and a 52-week high of $83.98. The company has a fifty day moving average price of $53.10 and a 200-day moving average price of $55.52.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LW. Bank of America lowered their price objective on Lamb Weston from $60.00 to $56.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. Jefferies Financial Group lowered their price objective on Lamb Weston from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Wall Street Zen upgraded Lamb Weston from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Barclays lowered their price objective on Lamb Weston from $69.00 to $61.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Finally, Wells Fargo & Company lowered their price objective on Lamb Weston from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $67.64.

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.