Stifel Nicolaus set a $81.00 price objective on Lamb Weston (NYSE:LW) in a research report sent to investors on Friday morning, TipRanks reports. The firm currently has a buy rating on the specialty retailer’s stock.
LW has been the subject of several other research reports. Zacks Investment Research upgraded shares of Lamb Weston from a strong sell rating to a hold rating and set a $55.00 target price for the company in a research note on Friday, July 26th. TheStreet upgraded shares of Lamb Weston from a d+ rating to a c+ rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $75.57.
Shares of LW traded up $1.03 during mid-day trading on Friday, hitting $76.03. 599,324 shares of the company’s stock were exchanged, compared to its average volume of 1,486,647. Lamb Weston has a fifty-two week low of $58.83 and a fifty-two week high of $83.86. The firm has a market capitalization of $10.90 billion, a P/E ratio of 23.61, a P/E/G ratio of 2.82 and a beta of 0.17. The business’s 50 day moving average is $74.69 and its two-hundred day moving average is $68.20. The company has a current ratio of 1.68, a quick ratio of 0.81 and a debt-to-equity ratio of 23.94.
Lamb Weston (NYSE:LW) last announced its earnings results on Wednesday, October 2nd. The specialty retailer reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. Lamb Weston had a net margin of 12.44% and a negative return on equity of 1,426.55%. The business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $971.45 million. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Lamb Weston will post 3.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 1st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.80 annualized dividend and a yield of 1.05%. Lamb Weston’s dividend payout ratio is currently 24.84%.
In related news, VP Bernadette M. Madarieta sold 1,320 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $75.59, for a total transaction of $99,778.80. Following the completion of the transaction, the vice president now directly owns 14,777 shares of the company’s stock, valued at $1,116,993.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.82% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its holdings in Lamb Weston by 79.1% in the second quarter. Wells Fargo & Company MN now owns 4,150,079 shares of the specialty retailer’s stock valued at $262,949,000 after buying an additional 1,832,695 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Lamb Weston by 78.6% in the second quarter. William Blair Investment Management LLC now owns 3,334,556 shares of the specialty retailer’s stock valued at $211,277,000 after buying an additional 1,468,016 shares in the last quarter. BlackRock Inc. increased its holdings in Lamb Weston by 11.6% in the second quarter. BlackRock Inc. now owns 12,967,335 shares of the specialty retailer’s stock valued at $821,610,000 after buying an additional 1,349,262 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Lamb Weston by 981,838.9% in the second quarter. Rockefeller Capital Management L.P. now owns 1,109,591 shares of the specialty retailer’s stock valued at $70,304,000 after buying an additional 1,109,478 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in Lamb Weston in the second quarter valued at about $60,065,000. 87.18% of the stock is owned by hedge funds and other institutional investors.
About Lamb Weston
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
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