Zurich Insurance Group Ltd FI purchased a new stake in Lamb Weston Holdings Inc (NYSE:LW) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 110,472 shares of the specialty retailer’s stock, valued at approximately $7,568,000. Zurich Insurance Group Ltd FI owned about 0.08% of Lamb Weston as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in LW. Destination Wealth Management grew its position in shares of Lamb Weston by 191.8% during the 2nd quarter. Destination Wealth Management now owns 1,459 shares of the specialty retailer’s stock worth $100,000 after buying an additional 959 shares during the period. Acadian Asset Management LLC grew its position in shares of Lamb Weston by 1,114.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,810 shares of the specialty retailer’s stock valued at $124,000 after purchasing an additional 1,661 shares during the period. Fort L.P. acquired a new position in shares of Lamb Weston in the 2nd quarter valued at approximately $124,000. Parallel Advisors LLC grew its position in shares of Lamb Weston by 198.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,943 shares of the specialty retailer’s stock valued at $133,000 after purchasing an additional 1,292 shares during the period. Finally, Stevens First Principles Investment Advisors grew its position in shares of Lamb Weston by 3,620.9% in the 1st quarter. Stevens First Principles Investment Advisors now owns 1,600 shares of the specialty retailer’s stock valued at $176,000 after purchasing an additional 1,557 shares during the period. 80.10% of the stock is owned by institutional investors and hedge funds.
LW opened at $73.99 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 0.73 and a debt-to-equity ratio of -6.98. Lamb Weston Holdings Inc has a 52-week low of $48.71 and a 52-week high of $75.09. The firm has a market cap of $9.75 billion, a PE ratio of 28.10, a P/E/G ratio of 2.05 and a beta of 0.34.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 2nd will be given a $0.191 dividend. The ex-dividend date is Thursday, November 1st. This represents a $0.76 annualized dividend and a yield of 1.03%. Lamb Weston’s dividend payout ratio is presently 28.57%.
LW has been the topic of several research reports. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 price objective on shares of Lamb Weston in a research note on Tuesday, October 2nd. Zacks Investment Research raised Lamb Weston from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Wednesday, July 4th. ValuEngine raised Lamb Weston from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Bank of America upped their price objective on Lamb Weston from $65.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, June 19th. Finally, Stifel Nicolaus increased their target price on Lamb Weston from $68.00 to $74.00 and gave the stock a “hold” rating in a report on Wednesday, October 3rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.00.
Lamb Weston Company Profile
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
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