Corebridge Financial Inc. Decreases Stake in Lamb Weston Holdings, Inc. (NYSE:LW)

Corebridge Financial Inc. lessened its holdings in shares of Lamb Weston Holdings, Inc. (NYSE:LW) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,285 shares of the specialty retailer’s stock after selling 2,546 shares during the period. Corebridge Financial Inc.’s holdings in Lamb Weston were worth $2,291,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Boston Partners increased its holdings in shares of Lamb Weston by 26.8% in the fourth quarter. Boston Partners now owns 3,477,165 shares of the specialty retailer’s stock valued at $232,330,000 after purchasing an additional 735,901 shares during the last quarter. State Street Corp increased its stake in shares of Lamb Weston by 9.7% in the 3rd quarter. State Street Corp now owns 6,221,665 shares of the specialty retailer’s stock worth $402,791,000 after acquiring an additional 549,812 shares during the last quarter. Liberty One Investment Management LLC increased its stake in shares of Lamb Weston by 697.4% in the 4th quarter. Liberty One Investment Management LLC now owns 350,268 shares of the specialty retailer’s stock worth $23,408,000 after acquiring an additional 306,343 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new position in shares of Lamb Weston during the 3rd quarter worth $19,822,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Lamb Weston in the fourth quarter valued at about $19,802,000. Institutional investors and hedge funds own 89.56% of the company’s stock.

Insider Activity

In other news, Director Robert A. Niblock bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were purchased at an average cost of $60.94 per share, for a total transaction of $182,820.00. Following the completion of the purchase, the director now owns 26,406 shares of the company’s stock, valued at approximately $1,609,181.64. This represents a 12.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Lamb Weston Trading Down 0.2 %

Shares of LW stock opened at $53.21 on Wednesday. Lamb Weston Holdings, Inc. has a fifty-two week low of $47.90 and a fifty-two week high of $105.31. The company has a 50 day moving average price of $55.40 and a 200 day moving average price of $65.73. The stock has a market capitalization of $7.59 billion, a P/E ratio of 21.03, a price-to-earnings-growth 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, May 2nd. Lamb Weston’s dividend payout ratio is currently 58.50%.

Analyst Upgrades and Downgrades

LW has been the topic of several recent analyst reports. Sanford C. Bernstein began coverage on shares of Lamb Weston in a report on Tuesday, December 3rd. They issued a “market perform” rating and a $85.00 target price on the stock. Jefferies Financial Group raised their target price on Lamb Weston from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $57.00 price target on shares of Lamb Weston in a research note on Wednesday, March 19th. Citigroup downgraded Lamb Weston from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $90.00 to $68.00 in a research report on Friday, December 20th. Finally, StockNews.com raised shares of Lamb Weston to a “sell” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.55.

About Lamb Weston

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.