Procyon Advisors LLC Sells 2,139 Shares of Lamb Weston Holdings, Inc. (NYSE:LW)

Procyon Advisors LLC decreased its stake in Lamb Weston Holdings, Inc. (NYSE:LW) by 22.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,420 shares of the specialty retailer’s stock after selling 2,139 shares during the period. Procyon Advisors LLC’s holdings in Lamb Weston were worth $802,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LW. Family Legacy Inc. lifted its holdings in shares of Lamb Weston by 1.5% during the fourth quarter. Family Legacy Inc. now owns 11,157 shares of the specialty retailer’s stock worth $1,206,000 after purchasing an additional 168 shares during the period. Douglas Lane & Associates LLC boosted its holdings in shares of Lamb Weston by 67.0% during the 4th quarter. Douglas Lane & Associates LLC now owns 570,227 shares of the specialty retailer’s stock worth $61,636,000 after buying an additional 228,726 shares in the last quarter. Artemis Investment Management LLP increased its stake in Lamb Weston by 277.2% in the fourth quarter. Artemis Investment Management LLP now owns 566,553 shares of the specialty retailer’s stock valued at $61,238,000 after purchasing an additional 416,339 shares in the last quarter. ZRC Wealth Management LLC acquired a new position in Lamb Weston during the 4th quarter worth approximately $129,000. Finally, Portside Wealth Group LLC increased its holdings in Lamb Weston by 5.2% during the 4th quarter. Portside Wealth Group LLC now owns 3,679 shares of the specialty retailer’s stock worth $398,000 after purchasing an additional 183 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LW shares. StockNews.com downgraded Lamb Weston from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Wells Fargo & Company started coverage on Lamb Weston in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $120.00 price objective on the stock. Citigroup started coverage on Lamb Weston in a research note on Thursday, February 1st. They issued a “buy” rating and a $132.00 target price on the stock. Stifel Nicolaus increased their target price on shares of Lamb Weston from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, January 5th. Finally, BNP Paribas began coverage on Lamb Weston in a report on Monday, March 11th. They set an “outperform” rating and a $128.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.20.

Lamb Weston Trading Up 0.6 %

NYSE:LW traded up $0.65 during midday trading on Thursday, reaching $106.95. 117,836 shares of the stock traded hands, compared to its average volume of 1,561,074. The company has a fifty day moving average of $103.31 and a 200 day moving average of $99.79. Lamb Weston Holdings, Inc. has a 12 month low of $81.25 and a 12 month high of $117.38. The stock has a market capitalization of $15.44 billion, a P/E ratio of 13.82, a PEG ratio of 1.19 and a beta of 0.72. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.57 and a current ratio of 1.29.

Lamb Weston (NYSE:LW) last released its quarterly earnings results on Thursday, January 4th. The specialty retailer reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.03. Lamb Weston had a net margin of 17.71% and a return on equity of 63.19%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the business posted $1.28 earnings per share. The firm’s revenue for the quarter was up 35.6% compared to the same quarter last year. On average, research analysts predict that Lamb Weston Holdings, Inc. will post 5.97 EPS for the current year.

Lamb Weston Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, May 2nd. This represents a $1.44 annualized dividend and a dividend yield of 1.35%. Lamb Weston’s payout ratio is 18.73%.

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.