Restaurant Industry’s Rebound Improved Lamb Weston Holdings (LW)’s Outlook

Meridian Funds, managed by ArrowMark Partners, released its “Meridian Enhanced Equity Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here.  In the second quarter, the fund returned -12.74% net, outperforming its benchmark, the S&P 500 Index, which fell by -16.10%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Meridian Funds discussed stocks like Lamb Weston Holdings, Inc. (NYSE:LW) in the second quarter investor letter. Headquartered in Eagle, Idaho, Lamb Weston Holdings, Inc. (NYSE:LW) engages in the business of production, distribution, and marketing of frozen potato products. On September 14, 2022, Lamb Weston Holdings, Inc. (NYSE:LW) stock closed at $75.75 per share. One-month return of Lamb Weston Holdings, Inc. (NYSE:LW) was -7.70% and its shares gained 22.43% of their value over the last 52 weeks. Lamb Weston Holdings, Inc. (NYSE:LW) has a market capitalization of $11.298 billion.

Here is what Meridian Funds specifically said about Lamb Weston Holdings, Inc. (NYSE:LW) in its Q2 2022 investor letter:

“A core hedged holding in the Fund, Lamb Weston Holdings, Inc. (NYSE:LW) benefited from its defensive profile as a leading producer of affordable food staples: French fries and other frozen potato products. In addition to maintaining a leading market share in an attractive consumer category, the scale of the company’s processing and distribution capabilities represents a wide competitive moat, it’s seeing favorable supply and demand dynamics, and it possesses a healthy balance sheet. The restaurant industry’s rebound also bolstered the company’s outlook.”

Lamb Weston Holdings, Inc. (NYSE:LW) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Lamb Weston Holdings, Inc. (NYSE:LW) at the end of the second quarter which was 36 in the previous quarter.

We discussed Lamb Weston Holdings, Inc. (NYSE:LW) in another article and shared the list of companies that were in focus after posting their financial results. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.