Mackenzie Financial Corp Cuts Stock Position in Lamb Weston Holdings, Inc. (NYSE:LW)

Mackenzie Financial Corp lowered its position in Lamb Weston Holdings, Inc. (NYSE:LW) by 59.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,844 shares of the specialty retailer’s stock after selling 7,173 shares during the period. Mackenzie Financial Corp’s holdings in Lamb Weston were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of LW. Allworth Financial LP raised its position in shares of Lamb Weston by 16.1% in the fourth quarter. Allworth Financial LP now owns 1,223 shares of the specialty retailer’s stock valued at $74,000 after buying an additional 170 shares during the last quarter. Blair William & Co. IL lifted its position in Lamb Weston by 3.2% during the fourth quarter. Blair William & Co. IL now owns 7,130 shares of the specialty retailer’s stock valued at $476,000 after buying an additional 219 shares in the last quarter. Atria Investments Inc boosted its position in Lamb Weston by 3.2% during the 4th quarter. Atria Investments Inc now owns 7,255 shares of the specialty retailer’s stock worth $485,000 after purchasing an additional 227 shares during the period. Norinchukin Bank The boosted its position in shares of Lamb Weston by 4.0% in the fourth quarter. Norinchukin Bank The now owns 5,873 shares of the specialty retailer’s stock worth $392,000 after buying an additional 227 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Lamb Weston by 0.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 43,702 shares of the specialty retailer’s stock worth $2,921,000 after acquiring an additional 253 shares during the period. 89.56% of the stock is currently owned by hedge funds and other institutional investors.

Lamb Weston Price Performance

LW opened at $55.28 on Thursday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.53 and a current ratio of 1.35. Lamb Weston Holdings, Inc. has a 52 week low of $47.90 and a 52 week high of $88.25. The company has a fifty day moving average price of $53.21 and a two-hundred day moving average price of $59.41. The firm has a market capitalization of $7.80 billion, a PE ratio of 21.85, a P/E/G ratio of 1.40 and a beta of 0.46.

Lamb Weston (NYSE:LW) last announced its quarterly earnings results on Thursday, April 3rd. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.23. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.50 billion. Lamb Weston had a net margin of 5.80% and a return on equity of 27.82%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. As a group, analysts anticipate that Lamb Weston Holdings, Inc. will post 3.1 earnings per share for the current year.

Lamb Weston Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 2nd were paid a dividend of $0.37 per share. The ex-dividend date was Friday, May 2nd. This represents a $1.48 annualized dividend and a dividend yield of 2.68%. Lamb Weston’s dividend payout ratio is currently 58.04%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LW. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $57.00 price target on shares of Lamb Weston in a research note on Wednesday, March 19th. Stifel Nicolaus set a $56.00 target price on Lamb Weston and gave the company a “hold” rating in a research note on Thursday, April 24th. Jefferies Financial Group reduced their price objective on Lamb Weston from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company decreased their target price on shares of Lamb Weston from $72.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Finally, Barclays lowered their price target on Lamb Weston from $69.00 to $61.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $69.91.

Lamb Weston Profile

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.