Confluence Investment Management LLC Takes $7.94 Million Position in Lamb Weston Holdings, Inc. (NYSE:LW)

Confluence Investment Management LLC acquired a new position in Lamb Weston Holdings, Inc. (NYSE:LW) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 94,400 shares of the specialty retailer’s stock, valued at approximately $7,937,000. Confluence Investment Management LLC owned about 0.07% of Lamb Weston as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. WFA Asset Management Corp raised its holdings in 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 last quarter. EntryPoint Capital LLC purchased a new position in Lamb Weston in the 1st quarter worth approximately $28,000. Redmont Wealth Advisors LLC purchased a new position in Lamb Weston in the 1st quarter worth approximately $32,000. TFO Wealth Partners LLC raised its holdings in Lamb Weston by 8,040.0% in the 4th quarter. TFO Wealth Partners LLC now owns 407 shares of the specialty retailer’s stock worth $432,000 after acquiring an additional 402 shares during the last quarter. Finally, Vima LLC purchased a new position in Lamb Weston in the 4th quarter worth approximately $50,000. 89.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. The Goldman Sachs Group cut their target price on shares of Lamb Weston from $132.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Barclays cut their target price on shares of Lamb Weston from $96.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Consumer Edge downgraded shares of Lamb Weston from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. Stifel Nicolaus downgraded shares of Lamb Weston from a “buy” rating to a “hold” rating and cut their target price for the stock from $115.00 to $60.00 in a research report on Thursday, July 25th. Finally, Wells Fargo & Company cut their target price on shares of Lamb Weston from $98.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.70.

Insider Buying and Selling

In other news, Director William G. Jurgensen bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was bought 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 approximately $9,610,287.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.66% of the stock is currently owned by insiders.

Lamb Weston Price Performance

Lamb Weston stock traded down $2.00 during mid-day trading on Friday, hitting $56.94. The stock had a trading volume of 4,766,844 shares, compared to its average volume of 5,084,109. The firm has a market capitalization of $8.18 billion, a P/E ratio of 7.60, a P/E/G ratio of 5.65 and a beta of 0.74. The company has a current ratio of 1.29, a quick ratio of 0.59 and a debt-to-equity ratio of 1.92. The firm’s 50 day moving average is $79.16 and its 200 day moving average is $89.86. Lamb Weston Holdings, Inc. has a one year low of $52.99 and a one year high of $111.88.

Lamb Weston Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is 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.