Morey & Quinn Wealth Partners LLC Acquires New Stake in Lamb Weston Holdings, Inc. (NYSE:LW)

Morey & Quinn Wealth Partners LLC bought a new stake in shares of Lamb Weston Holdings, Inc. (NYSE:LW) in the fourth quarter, Holdings Channel reports. The firm bought 6,234 shares of the specialty retailer’s stock, valued at approximately $417,000.

Several other institutional investors also recently bought and sold shares of LW. West Oak Capital LLC boosted its stake in shares of Lamb Weston by 155.7% in the fourth quarter. West Oak Capital LLC now owns 450 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 274 shares during the period. Stonebridge Financial Group LLC purchased a new position in Lamb Weston in the 4th quarter valued at approximately $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Lamb Weston in the fourth quarter worth $36,000. Brooklyn Investment Group purchased a new stake in shares of Lamb Weston during the third quarter worth $40,000. Finally, Larson Financial Group LLC raised its stake in shares of Lamb Weston by 614.4% in the third quarter. Larson Financial Group LLC now owns 693 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 596 shares in the last quarter. 89.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robert A. Niblock bought 3,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were acquired at an average price of $60.94 per share, with a total value of $182,820.00. Following the completion of the acquisition, the director now owns 26,406 shares in the company, valued at approximately $1,609,181.64. This trade represents a 12.82 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on LW shares. Barclays lowered their target price on Lamb Weston from $87.00 to $69.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Sanford C. Bernstein began coverage on shares of Lamb Weston in a research note on Tuesday, December 3rd. They set a “market perform” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Lamb Weston from $68.00 to $78.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Citigroup downgraded shares of Lamb Weston from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $90.00 to $68.00 in a research report on Friday, December 20th. Finally, Stifel Nicolaus lowered their target price on shares of Lamb Weston from $80.00 to $68.00 and set a “hold” rating for the company in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Lamb Weston currently has an average rating of “Hold” and a consensus target price of $76.73.

Lamb Weston Stock Down 1.8 %

Lamb Weston stock opened at $52.97 on Wednesday. The stock has a 50-day simple moving average of $56.06 and a 200-day simple moving average of $66.07. The company has a market capitalization of $7.56 billion, a P/E ratio of 20.94, a PEG ratio of 1.40 and a beta of 0.76. 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 fifty-two week low of $47.90 and a fifty-two week high of $107.50.

Lamb Weston Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 2nd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, May 2nd. Lamb Weston’s dividend payout ratio is currently 58.50%.

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.