First Horizon Advisors Inc. sells 895 shares of Lamb Weston Holdings, Inc. (NYSE:LW)

VaselineAugust 22, 2024

0 4 minutes read

First Horizon Advisors Inc. reduced its holdings in Lamb Weston Holdings, Inc. (NYSE:LW – Free Report) by 55.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 723 shares of the specialty retailer’s stock after selling 895 shares during the quarter. Holdings of First Horizon Advisors Inc. in Lamb Weston were worth $61,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Leeward Investments LLC MA grew its stake in Lamb Weston by 23.5% in the second quarter. Leeward Investments LLC MA now owns 139,224 shares of the specialty retailer’s stock worth $11,706,000 after purchasing an additional 26,460 shares in the last quarter. Sarasin & Partners LLP purchased a new position in shares of Lamb Weston in the second quarter valued at about $1,261,000. Raymond James & Associates grew its position in shares of Lamb Weston by 237.1% in the second quarter. Raymond James & Associates now owns 185,444 shares of the specialty retailer’s stock valued at $15,592,000 after purchasing an additional 130,428 shares during the last quarter. TCW Group Inc. acquired a new stake in Lamb Weston during the second quarter valued at $7,208,000. Finally, Blue Trust Inc. lifted its position in Lamb Weston by 251.6% in the second quarter. Blue Trust Inc. now owns 436 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 312 shares during the last quarter. Institutional investors own 89.56% of the company’s shares.

Lamb Weston price performance

Shares of NYSE LW opened at $62.20 on Thursday. Lamb Weston Holdings, Inc. it has a fifty-two week low of $52.99 and a fifty-two week high of $111.88. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.59, and a current ratio of 1.29. The company has a market cap of $8.98 billion, a PE ratio of 8.30, a P/E/G ratio of 5.65 and a beta of 0.74. The company has a 50 day simple moving average of $72.16 and a two hundred day simple moving average of $85.60.

Want more great investment ideas?

Lamb Weston (NYSE:LW – Get Your Free Report ) last posted its earnings results on Wednesday, July 24th. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.46). Lamb Weston had a net margin of 11.22% and a return on equity of 44.06%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.71 billion. As a group, equities analysts expect that Lamb Weston Holdings, Inc. to post 4.55 EPS for the current fiscal year.

Lamb Weston Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 2nd will be given a $0.36 dividend. The ex-dividend date is Friday, August 2. This represents a dividend of $1.44 on an annualized basis and a dividend yield of 2.32%. Lamb Weston’s payout ratio is currently 19.23%.

Insider buying and selling at Lamb Weston

In related news, Director William G. Jurgensen purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $55.43 per share, with a total value of $554,300.00. Following the completion of the acquisition, the director now directly owns 173,377 shares in the company, valued at $9,610,287.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 1.66% of shares are held by corporate insiders.

Analyst upgrades and downgrades

Several brokerages have issued reports on LW. Stifel Nicolaus downgraded shares of Lamb Weston from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $115.00 to $60.00 in a research note on Thursday, July 25. Wells Fargo & Company cut their price objective on Lamb Weston from $98.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. TD Cowen downgraded Lamb Weston from a “buy” rating to a “hold” rating and reduced their price objective for the company from $105.00 to $61.00 in a report on Thursday, 25 July. Citigroup cut their price target on shares of Lamb Weston from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Lamb Weston from $108.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Moderate Buy” and an average price target of $87.70, according to MarketBeat.

View the latest stock report at Lamb Weston

Lamb Weston profile

(Free Report)

Lamb Weston Holdings, Inc manufactures, distributes and markets frozen potato products worldwide. The company operates through four segments: Global, Foodservice, Retail and Others. Offers frozen potatoes, commercial ingredients and appetizers under the Lamb Weston brand as well as various customer labels.