Lamb Weston Holdings, Inc. (NYSE:LW) Stock Position Reduced by State of Michigan Retirement System

State of Michigan Retirement System lessened its position in shares of Lamb Weston Holdings, Inc. (NYSE:LW) by 1.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 38,732 shares of the specialty retailer’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Lamb Weston were worth $2,588,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS lifted its holdings in Lamb Weston by 0.8% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 18,756 shares of the specialty retailer’s stock worth $1,214,000 after buying an additional 156 shares during the last quarter. Allworth Financial LP lifted its holdings in Lamb Weston by 16.1% during the 4th quarter. Allworth Financial LP now owns 1,223 shares of the specialty retailer’s stock worth $74,000 after buying an additional 170 shares during the last quarter. Bridges Investment Management Inc. lifted its holdings in Lamb Weston by 2.8% during the 3rd quarter. Bridges Investment Management Inc. now owns 6,648 shares of the specialty retailer’s stock worth $430,000 after buying an additional 181 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Lamb Weston by 5.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,649 shares of the specialty retailer’s stock worth $241,000 after purchasing an additional 186 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of Lamb Weston by 2.8% in the 4th quarter. Park Avenue Securities LLC now owns 8,901 shares of the specialty retailer’s stock worth $595,000 after purchasing an additional 239 shares during the last quarter. Institutional investors own 89.56% of the company’s stock.

Lamb Weston Stock Up 2.3 %

LW opened at $52.89 on Friday. Lamb Weston Holdings, Inc. has a 12 month low of $49.28 and a 12 month high of $107.50. The stock has a market cap of $7.54 billion, a P/E ratio of 20.91, a P/E/G ratio of 1.40 and a beta of 0.76. The stock’s 50 day moving average price is $58.70 and its 200 day moving average price is $66.83. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.35 and a quick ratio of 0.53.

Lamb Weston (NYSE:LW) last issued its quarterly earnings results on Thursday, December 19th. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.35). Lamb Weston had a net margin of 5.80% and a return on equity of 27.82%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business posted $1.45 earnings per share. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, research analysts predict that Lamb Weston Holdings, Inc. will post 3.1 earnings per share for the current year.

Lamb Weston Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, January 31st were given a dividend of $0.37 per share. The ex-dividend date was Friday, January 31st. This is a boost from Lamb Weston’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 2.80%. Lamb Weston’s dividend payout ratio (DPR) is 58.50%.

Analysts Set New Price Targets

Several brokerages recently issued reports on LW. Stifel Nicolaus cut their price target on Lamb Weston from $80.00 to $68.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Barclays cut their price target on Lamb Weston from $87.00 to $69.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Sanford C. Bernstein began coverage on Lamb Weston in a report on Tuesday, December 3rd. They issued a “market perform” rating and a $85.00 price target on the stock. Jefferies Financial Group raised their price target on Lamb Weston from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. raised their price target on Lamb Weston from $68.00 to $78.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.00.

Insider Activity

In related news, Director Charles A. Blixt bought 1,200 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $63.25 per share, for a total transaction of $75,900.00. Following the acquisition, the director now directly owns 22,982 shares of the company’s stock, valued at $1,453,611.50. The trade was a 5.51 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert A. Niblock bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was bought at an average price of $60.94 per share, for a total transaction of $182,820.00. Following the completion of the acquisition, the director now directly owns 26,406 shares in the company, valued at approximately $1,609,181.64. The trade was a 12.82 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

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.