TD Cowen Boosts Lamb Weston (NYSE:LW) Price Target to $65.00

Lamb Weston (NYSE:LW) had its price target upped by TD Cowen from $61.00 to $65.00 in a research note issued to investors on Tuesday morning, Benzinga reports. TD Cowen currently has a hold rating on the specialty retailer’s stock.

LW has been the subject of several other reports. Consumer Edge downgraded shares of Lamb Weston from an overweight rating to an equal weight rating in a report on Friday, July 26th. Wells Fargo & Company dropped their target price on shares of Lamb Weston from $98.00 to $70.00 and set an overweight rating for the company in a report on Friday, July 26th. Barclays lowered their price target on shares of Lamb Weston from $96.00 to $70.00 and set an overweight rating for the company in a report on Friday, July 26th. Stifel Nicolaus downgraded shares of Lamb Weston from a buy rating to a hold rating and lowered their price target for the stock from $115.00 to $60.00 in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Lamb Weston from $108.00 to $63.00 and set an overweight rating for the company in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $80.70.

Lamb Weston Stock Performance

Shares of LW opened at $66.49 on Tuesday. The company has a 50-day simple moving average of $62.39 and a 200-day simple moving average of $78.77. The company has a quick ratio of 0.59, a current ratio of 1.29 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $9.60 billion, a PE ratio of 8.88, a P/E/G ratio of 6.18 and a beta of 0.75. Lamb Weston has a 52-week low of $52.99 and a 52-week high of $111.88.

Lamb Weston (NYSE:LW) last posted its earnings results on Wednesday, July 24th. The specialty retailer reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.46). Lamb Weston had a net margin of 11.22% and a return on equity of 44.06%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Equities research analysts predict that Lamb Weston will post 4.54 earnings per share for the current fiscal year.

Lamb Weston Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were given a $0.36 dividend. The ex-dividend date was Friday, August 2nd. This represents a $1.44 annualized dividend and a dividend yield of 2.17%. Lamb Weston’s dividend payout ratio is presently 19.23%.

Insider Buying and Selling

In related news, Director William G. Jurgensen bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $55.43 per share, with a total value of $554,300.00. Following the completion of the transaction, the director now owns 173,377 shares of the company’s stock, valued at $9,610,287.11. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LW. WFA Asset Management Corp lifted its position in Lamb Weston by 248.6% during the first quarter. WFA Asset Management Corp now owns 244 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 174 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Lamb Weston during the first quarter valued at approximately $28,000. Crewe Advisors LLC lifted its position in Lamb Weston by 357.5% during the second quarter. Crewe Advisors LLC now owns 334 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 261 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Lamb Weston during the first quarter valued at approximately $32,000. Finally, GAMMA Investing LLC lifted its position in Lamb Weston by 135.8% during the second quarter. GAMMA Investing LLC now owns 382 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 220 shares in the last quarter. 89.56% of the stock is owned by institutional investors and hedge funds.

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.