Pendal Group Ltd bought a new position in shares of Lamb Weston Holdings Inc (NYSE:LW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,992 shares of the specialty retailer’s stock, valued at approximately $1,267,000.

Several other hedge funds have also modified their holdings of LW. BlackRock Inc. increased its stake in Lamb Weston by 6.4% in the 1st quarter. BlackRock Inc. now owns 11,618,073 shares of the specialty retailer’s stock valued at $870,657,000 after purchasing an additional 699,112 shares in the last quarter. Wells Fargo & Company MN increased its stake in Lamb Weston by 9.9% in the 1st quarter. Wells Fargo & Company MN now owns 2,317,384 shares of the specialty retailer’s stock valued at $173,666,000 after purchasing an additional 208,317 shares in the last quarter. Geode Capital Management LLC increased its stake in Lamb Weston by 57.9% in the 4th quarter. Geode Capital Management LLC now owns 2,152,534 shares of the specialty retailer’s stock valued at $158,094,000 after purchasing an additional 789,356 shares in the last quarter. William Blair Investment Management LLC increased its stake in Lamb Weston by 76.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,866,540 shares of the specialty retailer’s stock valued at $139,879,000 after purchasing an additional 805,966 shares in the last quarter. Finally, FMR LLC increased its stake in Lamb Weston by 5.8% in the 1st quarter. FMR LLC now owns 1,631,143 shares of the specialty retailer’s stock valued at $122,238,000 after purchasing an additional 89,544 shares in the last quarter. 89.95% of the stock is owned by institutional investors and hedge funds.

Lamb Weston stock traded up $1.15 during mid-day trading on Friday, hitting $69.05. 8,851 shares of the company were exchanged, compared to its average volume of 1,425,699. The business’s 50 day simple moving average is $65.67 and its two-hundred day simple moving average is $67.34. The company has a market capitalization of $9.80 billion, a P/E ratio of 21.20, a PEG ratio of 2.60 and a beta of 0.19. Lamb Weston Holdings Inc has a 12-month low of $58.83 and a 12-month high of $83.86.

Lamb Weston (NYSE:LW) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $972.49 million. Lamb Weston had a negative return on equity of 402.03% and a net margin of 12.48%. Lamb Weston’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Analysts forecast that Lamb Weston Holdings Inc will post 3.45 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 2nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, August 1st. Lamb Weston’s payout ratio is 24.84%.

Several research firms recently weighed in on LW. Goldman Sachs Group raised Lamb Weston from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Wednesday, June 19th. JPMorgan Chase & Co. began coverage on Lamb Weston in a research report on Monday, June 17th. They set a “neutral” rating and a $65.00 price target for the company. Bank of America raised Lamb Weston from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, May 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Lamb Weston from a “strong sell” rating to a “hold” rating and set a $55.00 price target for the company in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $75.71.

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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Institutional Ownership by Quarter for Lamb Weston (NYSE:LW)

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