Southpoint Capital Advisors LP decreased its stake in shares of Lamb Weston Holdings Inc. (NYSE:LW) by 75.2% during the first quarter, Holdings Channel reports. The firm owned 629,804 shares of the specialty retailer’s stock after selling 1,906,696 shares during the period. Lamb Weston Holdings comprises 1.1% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 25th largest position. Southpoint Capital Advisors LP’s holdings in Lamb Weston Holdings were worth $26,490,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of LW. Transamerica Financial Advisors Inc. boosted its position in shares of Lamb Weston Holdings by 0.7% in the first quarter. Transamerica Financial Advisors Inc. now owns 3,845 shares of the specialty retailer’s stock valued at $162,000 after buying an additional 26 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Lamb Weston Holdings during the first quarter valued at about $170,000. Ancora Advisors LLC purchased a new position in shares of Lamb Weston Holdings during the fourth quarter valued at about $178,000. Keybank National Association OH purchased a new position in shares of Lamb Weston Holdings during the fourth quarter valued at about $201,000. Finally, Bessemer Group Inc. purchased a new position in shares of Lamb Weston Holdings during the fourth quarter valued at about $202,000. Institutional investors own 78.91% of the company’s stock.
Shares of Lamb Weston Holdings Inc. (NYSE:LW) traded down 0.55% during trading on Friday, hitting $45.07. The company had a trading volume of 1,658,171 shares. The stock has a market cap of $6.58 billion and a PE ratio of 22.21. Lamb Weston Holdings Inc. has a 12-month low of $28.75 and a 12-month high of $47.99. The firm has a 50 day moving average of $44.27 and a 200 day moving average of $40.30.
Lamb Weston Holdings (NYSE:LW) last posted its quarterly earnings results on Thursday, April 6th. The specialty retailer reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.05. The company had revenue of $768.50 million during the quarter, compared to analyst estimates of $759.74 million. Lamb Weston Holdings’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts forecast that Lamb Weston Holdings Inc. will post $2.30 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Sunday, April 30th were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Wednesday, April 26th.
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A number of brokerages recently issued reports on LW. Zacks Investment Research upgraded Lamb Weston Holdings from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Friday, May 26th. Jefferies Group LLC restated a “buy” rating and issued a $53.00 target price (up from $50.00) on shares of Lamb Weston Holdings in a report on Friday, May 19th. Stifel Nicolaus cut Lamb Weston Holdings from a “buy” rating to a “hold” rating and lifted their target price for the stock from $42.00 to $44.00 in a report on Friday, April 7th. Berenberg Bank began coverage on Lamb Weston Holdings in a report on Tuesday, May 16th. They issued a “buy” rating and a $49.00 target price on the stock. Finally, CL King began coverage on Lamb Weston Holdings in a report on Tuesday, May 23rd. They issued a “strong-buy” rating and a $55.00 target price on the stock. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $43.56.
About Lamb Weston Holdings
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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