Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in Lamb Weston (NYSE:LW)

Key Points

• Zurcher Kantonalbank has reduced its stake in Lamb Weston (NYSE:LW) by 9.6%, now holding 44,099 shares valued at approximately $2.35 million.
• Lamb Weston reported quarterly earnings of $0.87 per share, exceeding analyst expectations, and a revenue of $1.68 billion, up 4% from the previous year.
• The company declared a quarterly dividend of $0.37 per share, which will yield an annualized dividend of $1.48 and a dividend yield of 2.6%.

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Lamb Weston (NYSE:LW - Free Report) by 9.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,099 shares of the specialty retailer's stock after selling 4,666 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Lamb Weston were worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of LW. Wayfinding Financial LLC bought a new position in Lamb Weston during the first quarter valued at approximately $28,000. Whipplewood Advisors LLC boosted its position in shares of Lamb Weston by 3,466.7% during the first quarter. Whipplewood Advisors LLC now owns 535 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 520 shares during the last quarter. Putney Financial Group LLC purchased a new position in shares of Lamb Weston in the 4th quarter worth $34,000. CX Institutional purchased a new position in shares of Lamb Weston in the 1st quarter worth $48,000. Finally, Acuitas Investments LLC lifted its holdings in shares of Lamb Weston by 239.3% in the 1st quarter. Acuitas Investments LLC now owns 950 shares of the specialty retailer's stock worth $51,000 after acquiring an additional 670 shares during the last quarter. Hedge funds and other institutional investors own 89.56% of the company's stock.

Lamb Weston Stock Down 2.8%

Lamb Weston stock traded down $1.53 during mid-day trading on Tuesday, hitting $53.11. The company had a trading volume of 1,948,374 shares, compared to its average volume of 2,424,805. The company has a quick ratio of 0.68, a current ratio of 1.38 and a debt-to-equity ratio of 2.12. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.13 and a beta of 0.49. The business has a fifty day moving average of $53.96 and a 200 day moving average of $54.28. Lamb Weston has a 1 year low of $47.87 and a 1 year high of $83.98.

Lamb Weston (NYSE:LW - Get Free Report) last released its earnings results on Wednesday, July 23rd. The specialty retailer reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.23. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.59 billion. Lamb Weston had a return on equity of 27.99% and a net margin of 5.54%. Lamb Weston's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. On average, sell-side analysts expect that Lamb Weston will post 3.1 earnings per share for the current fiscal year.

Lamb Weston Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 1st will be issued a $0.37 dividend. The ex-dividend date is Friday, August 1st. This represents a $1.48 annualized dividend and a yield of 2.8%. Lamb Weston's payout ratio is 58.96%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LW. Jefferies Financial Group cut their target price on shares of Lamb Weston from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Wall Street Zen raised shares of Lamb Weston from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Bank of America cut their price objective on shares of Lamb Weston from $60.00 to $56.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Wells Fargo & Company lifted their price objective on shares of Lamb Weston from $65.00 to $66.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Barclays boosted their target price on shares of Lamb Weston from $61.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Lamb Weston presently has a consensus rating of "Hold" and an average price target of $67.40.

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.