Solid Quarterly Results Pushed Lamb Weston Holdings (LW) in Q1

The London Company, an investment management company, released “The London Company Small-Mid Cap Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 5% gross, (4.8% net) compared to a 3.4% return for the Russell 2500 Index. Sector allocation was a tailwind for the outperformance of the fund in the quarter, while stock selection slightly impacted the relative performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

The London Company Small-Mid Cap Strategy highlighted stocks like Lamb Weston Holdings, Inc. (NYSE:LW) in the first quarter 2023 investor letter. Headquartered in Eagle, Idaho, Lamb Weston Holdings, Inc. (NYSE:LW) is a value-added frozen potato products producer and distributor. On June 30, 2023, Lamb Weston Holdings, Inc. (NYSE:LW) stock closed at $114.95 per share. One-month return of Lamb Weston Holdings, Inc. (NYSE:LW) was 1.48%, and its shares gained 60.41% of their value over the last 52 weeks. Lamb Weston Holdings, Inc. (NYSE:LW) has a market capitalization of $16.749 billion.

The London Company Small-Mid Cap Strategy made the following comment about Lamb Weston Holdings, Inc. (NYSE:LW) in its first quarter 2023 investor letter:

“Lamb Weston Holdings, Inc. (NYSE:LW) -LW’s outperformance was driven by solid quarterly results, which included double-digit pricing actions, healthy demand, and higher productivity. Productivity savings helped generate higher incremental margins and the company should drive margins higher as input costs normalize. The fry attachment rate remains above pre- pandemic levels. This is a consolidated industry and the long- term outlook remains very favorable. We remain attracted to LW’s market share, pricing power, and industry tailwinds.”

Lamb Weston Holdings, Inc. (NYSE:LW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 49 hedge fund portfolios held Lamb Weston Holdings, Inc. (NYSE:LW) at the end of first quarter 2023 which was 51 in the previous quarter.

We discussed Lamb Weston Holdings, Inc. (NYSE:LW) in another article and shared billionaire Stanley Druckenmiller’s 2023 portfolio and his top stock picks. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• Couch Potato Stock Portfolio: 10 Best Stocks To Buy
• 12 Most Undervalued Retail Stocks to Buy
• Top 20 Countries with the Highest Tobacco Consumption

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