Fortis Group Advisors LLC Cuts Holdings in Lamb Weston Holdings, Inc. (NYSE:LW)

Fortis Group Advisors LLC trimmed its holdings in shares of Lamb Weston Holdings, Inc. (NYSE:LW) by 81.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,750 shares of the specialty retailer’s stock after selling 16,629 shares during the period. Fortis Group Advisors LLC’s holdings in Lamb Weston were worth $315,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LW. WFA Asset Management Corp grew its holdings in shares of Lamb Weston by 248.6% in the 1st quarter. WFA Asset Management Corp now owns 244 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 174 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Lamb Weston in the 1st quarter worth approximately $28,000. Crewe Advisors LLC grew its holdings in shares of Lamb Weston by 357.5% in the 2nd quarter. Crewe Advisors LLC now owns 334 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 261 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in shares of Lamb Weston in the 1st quarter worth approximately $32,000. Finally, GAMMA Investing LLC grew its holdings in shares of Lamb Weston by 135.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 220 shares during the period. 89.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LW. JPMorgan Chase & Co. lowered their price target on Lamb Weston from $108.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Consumer Edge cut Lamb Weston from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Barclays lowered their target price on Lamb Weston from $96.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Citigroup lowered their target price on Lamb Weston from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, TD Cowen cut Lamb Weston from a “buy” rating to a “hold” rating and lowered their target price for the company from $105.00 to $61.00 in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Lamb Weston has a consensus rating of “Moderate Buy” and a consensus price target of $87.70.

Insider Activity at Lamb Weston

In other Lamb Weston news, Director William G. Jurgensen bought 10,000 shares of the stock in a transaction on Friday, July 26th. The stock was purchased at an average price of $55.43 per share, with a total value of $554,300.00. Following the acquisition, the director now owns 173,377 shares of the company’s stock, valued at $9,610,287.11. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.66% of the stock is currently owned by insiders.

Lamb Weston Trading Up 1.0 %

NYSE LW traded up $0.62 on Friday, hitting $61.92. 1,962,884 shares of the stock were exchanged, compared to its average volume of 2,520,579. Lamb Weston Holdings, Inc. has a 52-week low of $52.99 and a 52-week high of $111.88. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.29 and a quick ratio of 0.59. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 5.65 and a beta of 0.74. The company’s 50-day moving average price is $68.91 and its two-hundred day moving average price is $83.80.

Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Wednesday, July 24th. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.46). The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.71 billion. Lamb Weston had a return on equity of 44.06% and a net margin of 11.22%. Research analysts predict that Lamb Weston Holdings, Inc. will post 4.55 EPS for the current year.

Lamb Weston Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Friday, August 2nd. Lamb Weston’s dividend payout ratio is currently 19.23%.

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.