Kensico Capital Management Corp Buys 1,320,000 Shares of Lamb Weston Holdings Inc. (LW)

Kensico Capital Management Corp grew its stake in Lamb Weston Holdings Inc. (NYSE:LW) by 56.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,640,000 shares of the specialty retailer’s stock after acquiring an additional 1,320,000 shares during the quarter. Lamb Weston comprises approximately 2.6% of Kensico Capital Management Corp’s investment portfolio, making the stock its 13th biggest position. Kensico Capital Management Corp owned about 2.49% of Lamb Weston worth $170,680,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of LW. Janus Henderson Group PLC grew its holdings in shares of Lamb Weston by 33,787.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,676,101 shares of the specialty retailer’s stock worth $117,856,000 after purchasing an additional 2,668,204 shares during the period. Conatus Capital Management LP purchased a new position in Lamb Weston during the 2nd quarter valued at about $41,925,000. Balyasny Asset Management LLC boosted its holdings in Lamb Weston by 5,398.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 716,192 shares of the specialty retailer’s stock valued at $31,541,000 after acquiring an additional 703,167 shares during the period. Harris Associates L P purchased a new position in Lamb Weston during the 2nd quarter valued at about $30,823,000. Finally, Renaissance Technologies LLC boosted its holdings in Lamb Weston by 596.0% during the 2nd quarter. Renaissance Technologies LLC now owns 569,300 shares of the specialty retailer’s stock valued at $25,072,000 after acquiring an additional 487,500 shares during the period. 79.41% of the stock is owned by institutional investors and hedge funds.

Lamb Weston Holdings Inc. (LW) opened at $56.20 on Friday. The company has a debt-to-equity ratio of -4.10, a current ratio of 1.62 and a quick ratio of 0.67. The stock has a market capitalization of $8,216.27 and a PE ratio of 24.43. Lamb Weston Holdings Inc. has a 52 week low of $34.15 and a 52 week high of $56.42.

Lamb Weston (NYSE:LW) last announced its quarterly earnings data on Wednesday, October 4th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The business had revenue of $817.50 million during the quarter, compared to analysts’ expectations of $795.61 million. Lamb Weston had a negative return on equity of 50.81% and a net margin of 10.31%. The company’s revenue was up 5.3% compared to the same quarter last year. sell-side analysts expect that Lamb Weston Holdings Inc. will post 2.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, November 2nd. Lamb Weston’s payout ratio is presently 33.63%.

LW has been the subject of a number of research analyst reports. Jefferies Group restated a “buy” rating and set a $53.00 target price on shares of Lamb Weston in a report on Monday, September 25th. Morgan Stanley restated an “equal weight” rating and set a $50.00 target price (up from $46.00) on shares of Lamb Weston in a report on Thursday, October 5th. Zacks Investment Research upgraded Lamb Weston from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Friday, October 6th. Finally, Bank of America raised their target price on Lamb Weston from $52.00 to $57.00 and gave the company a “buy” rating in a report on Monday, November 6th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $50.63.

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Lamb Weston Profile

Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.

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

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