Swedbank AB Sells 80,000 Shares of Lamb Weston $LW

Key Points

• Swedbank AB reduced its Lamb Weston stake by 8.8% in the first quarter, selling 80,000 shares and leaving it with 834,000 shares worth about $35.2 million at quarter-end.
• Analysts have turned more cautious on LW, with several firms cutting price targets and ratings; the consensus remains “Hold” with an average target price of $48.55.
• Insider buying continues, as Jana Partners Management bought 50,000 shares at $43.19 each, while institutional investors still own a large majority of the company’s stock.

Swedbank AB lessened its position in shares of Lamb Weston (NYSE:LW - Free Report) by 8.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 834,000 shares of the specialty retailer's stock after selling 80,000 shares during the quarter. Swedbank AB owned approximately 0.60% of Lamb Weston worth $35,245,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LW. Arnhold LLC raised its stake in Lamb Weston by 710.2% during the fourth quarter. Arnhold LLC now owns 38,217 shares of the specialty retailer's stock worth $1,601,000 after buying an additional 33,500 shares during the last quarter. Capital Research Global Investors grew its holdings in Lamb Weston by 46.3% during the 3rd quarter. Capital Research Global Investors now owns 2,150,000 shares of the specialty retailer's stock worth $124,872,000 after acquiring an additional 680,000 shares during the period. Dana Investment Advisors Inc. grew its holdings in Lamb Weston by 44.8% during the 4th quarter. Dana Investment Advisors Inc. now owns 89,991 shares of the specialty retailer's stock worth $3,770,000 after acquiring an additional 27,835 shares during the period. Natixis Advisors LLC raised its position in shares of Lamb Weston by 8.7% in the 3rd quarter. Natixis Advisors LLC now owns 535,602 shares of the specialty retailer's stock worth $31,108,000 after acquiring an additional 42,709 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Lamb Weston by 2,682.3% in the 4th quarter. SG Americas Securities LLC now owns 801,708 shares of the specialty retailer's stock worth $33,584,000 after acquiring an additional 772,893 shares in the last quarter. Institutional investors own 89.56% of the company's stock.

Lamb Weston Stock Performance

Shares of LW opened at $46.19 on Thursday. Lamb Weston has a one year low of $37.62 and a one year high of $67.07. The company has a market cap of $6.38 billion, a PE ratio of 21.58, a P/E/G ratio of 6.20 and a beta of 0.47. The stock has a 50-day moving average of $43.64 and a 200-day moving average of $43.87. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.46 and a quick ratio of 0.69.

Analyst Ratings Changes

LW has been the topic of several research analyst reports. Stifel Nicolaus cut their target price on Lamb Weston from $50.00 to $45.00 and set a "hold" rating on the stock in a research report on Thursday, April 2nd. JPMorgan Chase & Co. dropped their price target on Lamb Weston from $50.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 24th. Weiss Ratings cut Lamb Weston from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, April 10th. BNP Paribas Exane reduced their price objective on shares of Lamb Weston from $48.00 to $41.00 and set a "neutral" rating for the company in a research report on Thursday, April 2nd. Finally, Bank of America lowered their price objective on shares of Lamb Weston from $49.00 to $47.00 and set a "neutral" rating for the company in a research note on Thursday, April 2nd. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $48.55.

Insider Activity at Lamb Weston

In other news, Director Jana Partners Management, Lp bought 50,000 shares of the stock in a transaction dated Wednesday, April 15th. The shares were bought at an average cost of $43.19 per share, with a total value of $2,159,500.00. Following the completion of the transaction, the director directly owned 5,398,980 shares of the company's stock, valued at $233,181,946.20. This trade represents a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

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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