Lamb Weston (NYSE:LW) Price Target Raised to $78.00

Lamb Weston (NYSE:LW) had its target price upped by JPMorgan Chase & Co. from $68.00 to $78.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

A number of other research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Lamb Weston in a report on Thursday, December 12th. They set a “hold” rating and a $81.00 target price on the stock. Citigroup upped their price target on Lamb Weston from $76.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Bank of America lifted their target price on shares of Lamb Weston from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Stifel Nicolaus boosted their price target on Lamb Weston from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company raised their target price on Lamb Weston from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.25.

Lamb Weston Stock Performance

LW opened at $78.22 on Monday. 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’s 50 day moving average is $77.11 and its 200-day moving average is $72.83. The stock has a market cap of $11.15 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.34 and a beta of 0.70. Lamb Weston has a twelve month low of $52.99 and a twelve month high of $111.88.

Lamb Weston (NYSE:LW) last announced its earnings results on Tuesday, October 1st. The specialty retailer reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. Lamb Weston had a return on equity of 34.33% and a net margin of 9.57%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the business earned $1.63 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that Lamb Weston will post 4.26 earnings per share for the current year.

Lamb Weston Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 1st were paid a dividend of $0.36 per share. The ex-dividend date was Friday, November 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.84%. Lamb Weston’s dividend payout ratio is currently 33.80%.

Hedge Funds Weigh In On Lamb Weston

Hedge funds have recently modified their holdings of the stock. Synovus Financial Corp increased its holdings in shares of Lamb Weston by 22.5% during the third quarter. Synovus Financial Corp now owns 4,075 shares of the specialty retailer’s stock worth $264,000 after buying an additional 749 shares in the last quarter. Tidal Investments LLC lifted its position in Lamb Weston by 52.0% during the 3rd quarter. Tidal Investments LLC now owns 35,089 shares of the specialty retailer’s stock valued at $2,272,000 after purchasing an additional 12,010 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Lamb Weston during the 3rd quarter worth $63,000. Toronto Dominion Bank increased its holdings in Lamb Weston by 49.5% in the third quarter. Toronto Dominion Bank now owns 65,331 shares of the specialty retailer’s stock valued at $4,230,000 after purchasing an additional 21,639 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in Lamb Weston by 5.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,649 shares of the specialty retailer’s stock worth $241,000 after acquiring an additional 186 shares during 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.