Lamb Weston (NYSE:LW) Trading 2.5% Higher – Here’s What Happened

Shares of Lamb Weston Holdings, Inc. (NYSE:LW) rose 2.5% during trading on Friday . The stock traded as high as $67.01 and last traded at $66.94. Approximately 204,638 shares were traded during trading, a decline of 92% from the average daily volume of 2,532,862 shares. The stock had previously closed at $65.28.

Analysts Set New Price Targets

LW has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of Lamb Weston from $68.00 to $78.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Sanford C. Bernstein began coverage on Lamb Weston in a research report on Tuesday, December 3rd. They set a “market perform” rating and a $85.00 target price on the stock. Stifel Nicolaus lowered their price target on Lamb Weston from $80.00 to $68.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Bank of America boosted their price objective on shares of Lamb Weston from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price target on shares of Lamb Weston from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $81.00.

Lamb Weston Stock Up 3.2 %

The firm has a market cap of $9.60 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.42 and a beta of 0.70. The company has a current ratio of 1.19, a quick ratio of 0.54 and a debt-to-equity ratio of 1.87. The business has a 50-day moving average price of $76.20 and a 200-day moving average price of $71.98.

Lamb Weston (NYSE:LW) last posted its earnings results on Thursday, December 19th. The specialty retailer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.35). The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Lamb Weston had a return on equity of 34.33% and a net margin of 9.57%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.45 EPS. On average, equities analysts forecast that Lamb Weston Holdings, Inc. will post 4.26 EPS for the current fiscal year.

Lamb Weston Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, January 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.20%. This is a positive change from Lamb Weston’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, January 31st. Lamb Weston’s dividend payout ratio is presently 58.50%.

Insider Transactions at Lamb Weston

In other Lamb Weston news, Director Charles A. Blixt acquired 1,200 shares of the stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $63.25 per share, with a total value of $75,900.00. Following the transaction, the director now directly owns 22,982 shares of the company’s stock, valued at $1,453,611.50. This trade represents a 5.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Lamb Weston

Several institutional investors have recently added to or reduced their stakes in LW. State Street Corp grew its stake in Lamb Weston by 9.7% during the 3rd quarter. State Street Corp now owns 6,221,665 shares of the specialty retailer’s stock valued at $402,791,000 after purchasing an additional 549,812 shares during the last quarter. Geode Capital Management LLC raised its position in Lamb Weston by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,388,056 shares of the specialty retailer’s stock worth $218,598,000 after buying an additional 24,097 shares during the last quarter. Clarkston Capital Partners LLC boosted its holdings in shares of Lamb Weston by 108.7% in the 3rd quarter. Clarkston Capital Partners LLC now owns 3,107,929 shares of the specialty retailer’s stock valued at $201,207,000 after acquiring an additional 1,618,570 shares during the last quarter. TPG GP A LLC increased its stake in shares of Lamb Weston by 74.4% in the second quarter. TPG GP A LLC now owns 2,924,230 shares of the specialty retailer’s stock worth $245,869,000 after acquiring an additional 1,247,206 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Lamb Weston by 5.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,045,582 shares of the specialty retailer’s stock worth $171,993,000 after purchasing an additional 114,049 shares during the last quarter. Institutional investors and hedge funds own 89.56% of the company’s stock.

Lamb Weston Company Profile

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.