Norges Bank Buys New Shares in Lamb Weston Holdings, Inc. (NYSE:LW)

Norges Bank purchased a new position in shares of Lamb Weston Holdings, Inc. (NYSE:LW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,447,496 shares of the specialty retailer’s stock, valued at approximately $96,736,000. Norges Bank owned about 1.01% of Lamb Weston as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. West Oak Capital LLC lifted its position in Lamb Weston by 155.7% in the 4th quarter. West Oak Capital LLC now owns 450 shares of the specialty retailer’s stock worth $30,000 after buying an additional 274 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Lamb Weston in the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. purchased a new stake in shares of Lamb Weston in the 4th quarter valued at $36,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Lamb Weston in the 4th quarter valued at $47,000. Finally, Advantage Trust Co bought a new position in shares of Lamb Weston during the 4th quarter valued at $53,000. 89.56% of the stock is currently owned by institutional investors.

Lamb Weston Price Performance

NYSE LW opened at $53.21 on Wednesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.53 and a current ratio of 1.35. The business’s fifty day moving average is $55.40 and its 200 day moving average is $65.73. The company has a market capitalization of $7.59 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.40 and a beta of 0.76. Lamb Weston Holdings, Inc. has a fifty-two week low of $47.90 and a fifty-two week high of $105.31.

Lamb Weston Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 2nd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, May 2nd. Lamb Weston’s dividend payout ratio is 58.50%.

Wall Street Analysts Forecast Growth

LW has been the topic of several analyst reports. Jefferies Financial Group lifted their price objective on Lamb Weston from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. boosted their price objective on Lamb Weston from $68.00 to $78.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $57.00 price objective on shares of Lamb Weston in a research note on Wednesday, March 19th. StockNews.com upgraded shares of Lamb Weston to a “sell” rating in a report on Monday, February 24th. Finally, Barclays cut their price target on shares of Lamb Weston from $87.00 to $69.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $74.55.

Insiders Place Their Bets

In other news, Director Robert A. Niblock acquired 3,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were purchased at an average cost of $60.94 per share, for a total transaction of $182,820.00. Following the transaction, the director now directly owns 26,406 shares of the company’s stock, valued at approximately $1,609,181.64. This trade represents a 12.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.

About Lamb Weston

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