Huntington National Bank Sells 333 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Huntington National Bank lowered its stake in shares of Lamb Weston Holdings, Inc. (NYSE:LW) by 0.5% during the third quarter, Holdings Channel.com reports. The firm owned 68,864 shares of the specialty retailer’s stock after selling 333 shares during the quarter. Huntington National Bank’s holdings in Lamb Weston were worth $4,458,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in Lamb Weston during the 1st quarter valued at about $810,000. QRG Capital Management Inc. acquired a new position in shares of Lamb Weston during the first quarter valued at about $206,000. Avantax Advisory Services Inc. boosted its stake in Lamb Weston by 3.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,806 shares of the specialty retailer’s stock worth $405,000 after purchasing an additional 135 shares in the last quarter. ProShare Advisors LLC grew its position in Lamb Weston by 1.5% during the 1st quarter. ProShare Advisors LLC now owns 31,258 shares of the specialty retailer’s stock worth $3,330,000 after purchasing an additional 462 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Lamb Weston by 27.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 175,909 shares of the specialty retailer’s stock valued at $18,740,000 after purchasing an additional 38,013 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LW has been the topic of several research reports. Bank of America upped their target price on Lamb Weston from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Stifel Nicolaus increased their price objective on Lamb Weston from $65.00 to $80.00 and gave the company a “hold” rating in a report on Friday, October 25th. Consumer Edge cut Lamb Weston from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $68.00 target price (up previously from $63.00) on shares of Lamb Weston in a research report on Monday, October 7th. Finally, Wells Fargo & Company increased their price target on shares of Lamb Weston from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $82.22.

Lamb Weston Stock Up 0.4 %

Shares of LW stock opened at $80.41 on Friday. Lamb Weston Holdings, Inc. has a twelve month low of $52.99 and a twelve month high of $111.88. The stock has a market cap of $11.47 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.43 and a beta of 0.72. The stock has a 50 day moving average of $71.19 and a 200 day moving average of $74.30. The company has a current ratio of 1.19, a quick ratio of 0.54 and a debt-to-equity ratio of 1.87.

Lamb Weston (NYSE:LW) last posted its earnings results on Tuesday, October 1st. The specialty retailer reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Lamb Weston had a net margin of 9.57% and a return on equity of 34.33%. The business’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.63 EPS. As a group, sell-side analysts expect that Lamb Weston Holdings, Inc. will post 4.26 EPS for the current year.

Lamb Weston Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 1st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.79%. Lamb Weston’s dividend payout ratio is presently 33.80%.

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.