Norges Bank Purchase New Holding in Lamb Weston Stake Inc (LW)

Norges Bank Purchase New Holding in Lamb Weston Stake Inc (LW)

Norges Bank purchased a new position in shares of Lamb Weston Holdings Inc (NYSE:LW) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,330,851 shares of the company’s stock, valued at approximately $50,373,000.

A number of other institutional investors have also made changes to their positions in LW. Ancora Advisors LLC acquired a new position in shares of Lamb Weston Holdings during the fourth quarter worth about $178,000. Keybank National Association OH acquired a new position in shares of Lamb Weston Holdings during the fourth quarter worth about $201,000. Bessemer Group Inc. acquired a new position in shares of Lamb Weston Holdings during the fourth quarter worth about $202,000. Cigna Investments Inc. New acquired a new position in shares of Lamb Weston Holdings during the fourth quarter worth about $206,000. Finally, Honkamp Krueger Financial Services Inc. ADV acquired a new position in shares of Lamb Weston Holdings during the fourth quarter worth about $258,000. 6.40% of the stock is owned by hedge funds and other institutional investors.

Shares of Lamb Weston Holdings Inc (NYSE:LW) opened at 42.48 on Tuesday. The firm has a 50-day moving average price of $39.78 and a 200-day moving average price of $37.18. The stock has a market cap of $6.20 billion and a PE ratio of 19.61. Lamb Weston Holdings Inc has a 52 week low of $28.75 and a 52 week high of $43.47.

Lamb Weston Holdings (NYSE:LW) last issued its quarterly earnings data on Tuesday, January 10th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07. The business had revenue of $790.70 million for the quarter. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts forecast that Lamb Weston Holdings Inc will post $2.23 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on LW shares. Jefferies Group LLC boosted their price objective on Lamb Weston Holdings from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, March 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $38.00 price objective (up previously from $34.00) on shares of Lamb Weston Holdings in a research note on Wednesday, January 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $32.00 price objective on shares of Lamb Weston Holdings in a research note on Saturday, November 26th. Zacks Investment Research cut Lamb Weston Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 15th. Finally, Goldman Sachs Group Inc started coverage on Lamb Weston Holdings in a research note on Wednesday, February 8th. They issued a “neutral” rating and a $38.00 price objective for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $38.14.

Lamb Weston Holdings Company 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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