ING Groep NV grew its position in shares of Lamb Weston Holdings, Inc. (NYSE:LW – Free Report) by 55.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,274 shares of the specialty retailer’s stock after buying an additional 22,190 shares during the quarter. ING Groep NV’s holdings in Lamb Weston were worth $5,758,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in LW. American National Bank bought a new stake in Lamb Weston during the second quarter worth about $26,000. Eagle Bay Advisors LLC bought a new stake in shares of Lamb Weston during the second quarter valued at approximately $29,000. Clear Street Markets LLC grew its stake in shares of Lamb Weston by 92.5% during the first quarter. Clear Street Markets LLC now owns 283 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 136 shares during the last quarter. Missouri Trust & Investment Co bought a new stake in shares of Lamb Weston during the second quarter valued at approximately $31,000. Finally, Kistler Tiffany Companies LLC bought a new stake in shares of Lamb Weston during the second quarter valued at approximately $32,000. 85.77% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, Director William G. Jurgensen bought 3,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were bought at an average cost of $84.35 per share, for a total transaction of $253,050.00. Following the completion of the acquisition, the director now owns 162,835 shares in the company, valued at approximately $13,735,132.25. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.66% of the company’s stock.
Lamb Weston Trading Down 0.0 %
Lamb Weston (NYSE:LW – Get Free Report) last posted its earnings results on Thursday, January 4th. The specialty retailer reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.03. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. Lamb Weston had a net margin of 17.71% and a return on equity of 63.19%. The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period last year, the business posted $1.28 earnings per share. Equities research analysts anticipate that Lamb Weston Holdings, Inc. will post 5.97 EPS for the current year.
Lamb Weston announced that its Board of Directors has approved a share repurchase program on Wednesday, October 11th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Lamb Weston Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 2nd will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This is a positive change from Lamb Weston’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 1.34%. Lamb Weston’s dividend payout ratio (DPR) is 14.56%.
Wall Street Analyst Weigh In
Several analysts have recently commented on LW shares. Stifel Nicolaus increased their price target on shares of Lamb Weston from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, January 5th. Jefferies Financial Group increased their price target on shares of Lamb Weston from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, October 6th. StockNews.com cut shares of Lamb Weston from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. JPMorgan Chase & Co. cut their price objective on shares of Lamb Weston from $129.00 to $127.00 and set an “overweight” rating on the stock in a report on Friday, October 6th. Finally, Wells Fargo & Company initiated coverage on shares of Lamb Weston in a report on Tuesday, December 12th. They issued an “overweight” rating and a $120.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $126.50.
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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