Traders Purchase Large Volume of Put Options on Lamb Weston (NYSE:LW)

Lamb Weston Holdings Inc (NYSE:LW) saw unusually large options trading activity on Thursday. Stock traders bought 3,836 put options on the company. This represents an increase of approximately 3,124% compared to the average volume of 119 put options.

Hedge funds have recently bought and sold shares of the stock. 6 Meridian boosted its stake in shares of Lamb Weston by 3.0% during the second quarter. 6 Meridian now owns 6,954 shares of the specialty retailer’s stock valued at $441,000 after purchasing an additional 200 shares during the period. Clark Capital Management Group Inc. boosted its stake in shares of Lamb Weston by 2.1% during the second quarter. Clark Capital Management Group Inc. now owns 8,374 shares of the specialty retailer’s stock valued at $531,000 after purchasing an additional 175 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Lamb Weston by 2.0% during the second quarter. Nisa Investment Advisors LLC now owns 66,910 shares of the specialty retailer’s stock valued at $4,239,000 after purchasing an additional 1,299 shares during the period. NN Investment Partners Holdings N.V. boosted its stake in shares of Lamb Weston by 1,034.7% during the second quarter. NN Investment Partners Holdings N.V. now owns 282,678 shares of the specialty retailer’s stock valued at $17,911,000 after purchasing an additional 257,766 shares during the period. Finally, Copper Rock Capital Partners LLC boosted its stake in shares of Lamb Weston by 16.1% during the second quarter. Copper Rock Capital Partners LLC now owns 196,615 shares of the specialty retailer’s stock valued at $12,458,000 after purchasing an additional 27,209 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on the stock. Goldman Sachs Group restated a “buy” rating and set a $21.50 target price on shares of Infineon Technologies in a research note on Wednesday, June 19th. JPMorgan Chase & Co. reduced their price objective on shares of from GBX 97 ($1.27) to GBX 89 ($1.16) and set a “neutral” rating on the stock in a research report on Monday, June 17th. Bank of America reiterated a “buy” rating and set a $85.00 price objective (up previously from $78.00) on shares of Everbridge in a research report on Tuesday, May 7th. Zacks Investment Research upgraded shares of Investar from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, June 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Rapid7 from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $76.86.

LW stock opened at $65.93 on Friday. The firm has a fifty day simple moving average of $62.08. Lamb Weston has a fifty-two week low of $58.83 and a fifty-two week high of $83.86. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.65 and a beta of 0.19.

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.

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