Toronto Dominion Bank Purchases 14,334 Shares of Lamb Weston Holdings Inc (LW)

Toronto Dominion Bank boosted its position in Lamb Weston Holdings Inc (NYSE:LW) by 16.1% in the first quarter, Holdings Channel reports. The institutional investor owned 103,406 shares of the specialty retailer’s stock after purchasing an additional 14,334 shares during the period. Toronto Dominion Bank’s holdings in Lamb Weston were worth $7,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in LW. Legal & General Group Plc boosted its stake in Lamb Weston by 6.9% during the third quarter. Legal & General Group Plc now owns 684,258 shares of the specialty retailer’s stock worth $45,571,000 after buying an additional 44,243 shares in the last quarter. Vanguard Group Inc raised its holdings in Lamb Weston by 2.1% during the 3rd quarter. Vanguard Group Inc now owns 13,940,423 shares of the specialty retailer’s stock worth $928,433,000 after purchasing an additional 286,945 shares during the last quarter. DNB Asset Management AS bought a new stake in Lamb Weston during the 4th quarter worth about $1,453,000. Bank of Montreal Can raised its holdings in Lamb Weston by 325.3% during the 4th quarter. Bank of Montreal Can now owns 70,987 shares of the specialty retailer’s stock worth $5,222,000 after purchasing an additional 54,297 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in Lamb Weston during the 4th quarter worth about $1,169,000. 83.22% of the stock is owned by institutional investors and hedge funds.

Shares of LW traded up $0.06 on Tuesday, hitting $67.60. The company’s stock had a trading volume of 9,651 shares, compared to its average volume of 1,706,124. Lamb Weston Holdings Inc has a fifty-two week low of $63.02 and a fifty-two week high of $83.86. The firm has a market capitalization of $9.90 billion, a PE ratio of 25.35, a P/E/G ratio of 1.79 and a beta of -0.26.

Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Tuesday, April 2nd. The specialty retailer reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.13. Lamb Weston had a negative return on equity of 230.44% and a net margin of 12.47%. The business had revenue of $926.80 million during the quarter, compared to analyst estimates of $898.46 million. During the same period in the previous year, the firm earned $0.91 EPS. Lamb Weston’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts anticipate that Lamb Weston Holdings Inc will post 3.2 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. Lamb Weston’s dividend payout ratio is presently 30.08%.

Several brokerages have weighed in on LW. Bank of America raised Lamb Weston from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, May 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded Lamb Weston from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Thursday, April 4th. Stifel Nicolaus boosted their target price on Lamb Weston from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Consumer Edge initiated coverage on Lamb Weston in a research report on Friday, March 22nd. They set an “outperform” rating for the company. Finally, Daiwa Capital Markets initiated coverage on Lamb Weston in a research report on Wednesday, February 27th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $78.83.

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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.

Further Reading: Gross Domestic Product (GDP)

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Institutional Ownership by Quarter for Lamb Weston (NYSE:LW)

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