Nissay Asset Management Corp Japan ADV reduced its stake in Lamb Weston Holdings, Inc. (NYSE:LW) by 17.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 14,880 shares of the specialty retailer’s stock after selling 3,243 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Lamb Weston were worth $1,172,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Perigon Wealth Management LLC bought a new position in Lamb Weston in the 4th quarter worth $25,000. Tompkins Financial Corp purchased a new stake in Lamb Weston in the 4th quarter worth $25,000. NuWave Investment Management LLC purchased a new stake in Lamb Weston in the 3rd quarter worth $26,000. Biltmore Capital Advisors LLC purchased a new stake in Lamb Weston in the 3rd quarter worth $35,000. Finally, Key Financial Inc purchased a new stake in Lamb Weston in the 4th quarter worth $41,000. 86.38% of the stock is currently owned by institutional investors.
Shares of LW stock opened at $80.75 on Tuesday. Lamb Weston Holdings, Inc. has a 52-week low of $39.06 and a 52-week high of $96.11. The company has a debt-to-equity ratio of 6.65, a quick ratio of 1.88 and a current ratio of 2.91. The firm has a market capitalization of $11.82 billion, a PE ratio of 39.98, a PEG ratio of 3.31 and a beta of 0.78. The stock has a fifty day simple moving average of $77.24 and a two-hundred day simple moving average of $71.46.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 5th. Stockholders of record on Friday, February 5th will be given a dividend of $0.235 per share. This is a positive change from Lamb Weston’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, February 4th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.16%. Lamb Weston’s dividend payout ratio (DPR) is presently 37.60%.
In related news, SVP Eryk J. Spytek sold 6,183 shares of the stock in a transaction dated Wednesday, January 13th. The shares were sold at an average price of $75.00, for a total value of $463,725.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas P. Werner sold 69,500 shares of the stock in a transaction dated Friday, January 15th. The shares were sold at an average price of $77.65, for a total transaction of $5,396,675.00. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
Separately, JPMorgan Chase & Co. upgraded Lamb Weston from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $74.00 to $89.00 in a research note on Monday, December 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $67.00.
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, commercial ingredients, and appetizers under the Lamb Weston brand, as well as various customer labels.
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