US Bancorp DE Cuts Stock Position in Lamb Weston $LW

Key Points

• US Bancorp DE reduced its stake in Lamb Weston by 13.6% in Q2, decreasing its holdings to 38,316 shares valued at approximately $1.99 million.
• Multiple institutional investors, including KLP Kapitalforvaltning AS and Ameriflex Group Inc., increased their positions significantly in Lamb Weston, with Ameriflex lifting its stake by 407.7%.
• Lamb Weston reported earnings of $0.64 per share for the last quarter, with a revenue of $1.15 billion, and has a dividend yield of 2.3% with a quarterly dividend announcement of $0.37 per share.

US Bancorp DE lowered its holdings in Lamb Weston (NYSE:LW - Free Report) by 13.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,316 shares of the specialty retailer's stock after selling 6,024 shares during the period. US Bancorp DE's holdings in Lamb Weston were worth $1,987,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. KLP Kapitalforvaltning AS boosted its position in Lamb Weston by 9.2% in the second quarter. KLP Kapitalforvaltning AS now owns 28,600 shares of the specialty retailer's stock worth $1,483,000 after purchasing an additional 2,400 shares during the last quarter. Avantra Family Wealth Inc. boosted its position in Lamb Weston by 44.5% in the second quarter. Avantra Family Wealth Inc. now owns 6,391 shares of the specialty retailer's stock worth $331,000 after purchasing an additional 1,969 shares during the last quarter. Hardy Reed LLC purchased a new position in Lamb Weston in the second quarter valued at approximately $268,000. Valeo Financial Advisors LLC purchased a new position in Lamb Weston in the second quarter valued at approximately $16,209,000. Finally, Ameriflex Group Inc. lifted its stake in Lamb Weston by 407.7% in the second quarter. Ameriflex Group Inc. now owns 594 shares of the specialty retailer's stock valued at $32,000 after purchasing an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 89.56% of the company's stock.

Lamb Weston Trading Down 0.3%

Lamb Weston stock opened at $63.96 on Thursday. The stock has a market cap of $8.91 billion, a P/E ratio of 30.60, a PEG ratio of 4.33 and a beta of 0.52. Lamb Weston has a fifty-two week low of $47.87 and a fifty-two week high of $83.98. The firm's fifty day moving average price is $57.29 and its 200-day moving average price is $54.79. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.77 and a current ratio of 1.49.

Lamb Weston (NYSE:LW - Get Free Report) last released its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.64 earnings per share for the quarter. The firm had revenue of $1.15 billion for the quarter. Lamb Weston had a net margin of 4.56% and a return on equity of 28.08%. Equities research analysts forecast that Lamb Weston will post 3.1 earnings per share for the current fiscal year.

Lamb Weston Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, October 31st. Lamb Weston's dividend payout ratio is currently 70.81%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LW shares. Bank of America upped their price objective on Lamb Weston from $60.00 to $66.00 and gave the company a "neutral" rating in a research note on Wednesday, October 1st. Cowen reiterated a "hold" rating on shares of Lamb Weston in a research note on Wednesday, October 1st. BNP Paribas Exane upped their price objective on Lamb Weston from $64.00 to $66.00 and gave the company an "outperform" rating in a research note on Wednesday, October 1st. Cfra Research upgraded Lamb Weston to a "hold" rating in a research note on Thursday, October 2nd. Finally, Sanford C. Bernstein set a $65.00 price objective on Lamb Weston and gave the company a "market perform" rating in a research note on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $65.70.

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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