BlueDrive Global Investors’ Latest Portfolio: Top 3 Stock Picks

2. Lamb Weston Holdings, Inc. (NYSE:LW)

BlueDrive Global Investors’ Stake Value: $38,586,000

Percentage of BlueDrive Global Investors’ 13F Portfolio: 27.29%

Number of Hedge Fund Holders: 35

Founded in 1950, Lamb Weston Holdings, Inc. (NYSE:LW) is one of the largest producers and processors of waffle fries, frozen french fries, and other frozen potato products in the world. BlueDrive Global Investors first reported initiating a stake in the company in a regulatory filing for the fourth quarter of 2020. Although Lamb Weston Holdings, Inc.’s (NYSE:LW) stock hasn’t appreciated since then, it is currently trading up by approximately 25% year-to-date. During the second quarter, legendary trader and billionaire Steve Cohen’s Point72 Asset Management increased its stake in the company by a whopping 886% to 1.4 million shares while Michael Gelband’s ExodusPoint Capital initiated a fresh stake in the company by purchasing 191,073 shares.

On July 27, Lamb Weston Holdings, Inc. (NYSE:LW) reported its fiscal year 2022 fourth quarter and full-year earnings. For the full year, analysts were projecting the company to report non-GAAP EPS of $1.95 on revenue of $4.02 billion, which the company managed to beat by $0.13 and $80 million, respectively. Earlier in the year, Jefferies Financial Group’s analyst Robert Dickerson released a note to clients in which he reiterated his ‘Buy’ rating but dropped the price target on Lamb Weston Holdings, Inc.’s (NYSE:LW) stock to $75 from $80.