Picton Mahoney Asset Management Purchases 900 Shares of Lamb Weston Holdings Inc (NYSE:LW)

Picton Mahoney Asset Management boosted its position in shares of Lamb Weston Holdings Inc (NYSE:LW) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,900 shares of the specialty retailer’s stock after purchasing an additional 900 shares during the period. Picton Mahoney Asset Management’s holdings in Lamb Weston were worth $1,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Achmea Investment Management B.V. acquired a new stake in Lamb Weston in the 2nd quarter valued at about $244,000. Guyasuta Investment Advisors Inc. lifted its stake in Lamb Weston by 13.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 14,232 shares of the specialty retailer’s stock valued at $902,000 after purchasing an additional 1,715 shares during the last quarter. AMI Asset Management Corp acquired a new stake in Lamb Weston in the 2nd quarter valued at about $41,482,000. Enlightenment Research LLC acquired a new stake in Lamb Weston in the 2nd quarter valued at about $427,000. Finally, Great Lakes Advisors LLC lifted its stake in Lamb Weston by 2.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 197,163 shares of the specialty retailer’s stock valued at $12,493,000 after purchasing an additional 4,416 shares during the last quarter. Hedge funds and other institutional investors own 91.38% of the company’s stock.

LW stock traded down $1.11 during mid-day trading on Friday, hitting $68.40. 418,083 shares of the company were exchanged, compared to its average volume of 1,117,988. The business has a 50 day simple moving average of $66.64 and a 200-day simple moving average of $67.31. The stock has a market capitalization of $10.13 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.68 and a beta of 0.19. Lamb Weston Holdings Inc has a 1-year low of $58.83 and a 1-year high of $83.86.

Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $972.49 million. Lamb Weston had a net margin of 12.48% and a negative return on equity of 402.03%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.65 earnings per share. Sell-side analysts predict that Lamb Weston Holdings Inc will post 3.45 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 2nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $0.80 annualized dividend and a yield of 1.17%. Lamb Weston’s dividend payout ratio (DPR) is presently 24.84%.

LW has been the subject of several recent analyst reports. Goldman Sachs Group upgraded shares of Lamb Weston from a “neutral” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Wednesday, June 19th. Bank of America upgraded shares of Lamb Weston from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, May 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Lamb Weston from a “strong sell” rating to a “hold” rating and set a $55.00 target price for the company in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Lamb Weston in a research report on Monday, June 17th. They set a “neutral” rating and a $65.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Lamb Weston currently has a consensus rating of “Buy” and an average target price of $75.71.

About Lamb Weston

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.

Read More: Why is the ex-dividend date different from the record date?

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

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