Lamb Weston (NYSE:LW) Price Target Raised to $77.00

Lamb Weston (NYSE:LW) had its price objective increased by Wells Fargo & Company from $70.00 to $77.00 in a research report sent to investors on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the specialty retailer’s stock.

A number of other research firms have also recently commented on LW. The Goldman Sachs Group reduced their target price on shares of Lamb Weston from $132.00 to $78.00 and set a buy rating on the stock in a research report on Thursday, July 25th. Barclays cut their price objective on shares of Lamb Weston from $96.00 to $70.00 and set an overweight rating on the stock in a report on Friday, July 26th. JPMorgan Chase & Co. lowered their target price on Lamb Weston from $108.00 to $63.00 and set an overweight rating for the company in a research note on Thursday, July 25th. Consumer Edge cut Lamb Weston from an overweight rating to an equal weight rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus raised their price objective on Lamb Weston from $60.00 to $65.00 and gave the company a hold rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Lamb Weston has a consensus rating of Moderate Buy and a consensus price target of $82.40.

Lamb Weston Stock Up 0.8 %

Shares of NYSE LW opened at $68.85 on Thursday. The stock has a fifty day moving average price of $62.37 and a 200 day moving average price of $77.09. The company has a current ratio of 1.29, a quick ratio of 0.59 and a debt-to-equity ratio of 1.92. Lamb Weston has a 12-month low of $52.99 and a 12-month high of $111.88. The company has a market cap of $9.94 billion, a P/E ratio of 9.19, a P/E/G ratio of 6.18 and a beta of 0.75.

Lamb Weston (NYSE:LW) last announced its earnings results on Tuesday, October 1st. The specialty retailer reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.55 billion. Lamb Weston had a return on equity of 44.06% and a net margin of 11.22%. The company’s revenue was down .7% on a year-over-year basis. During the same period last year, the business posted $1.63 EPS. Research analysts anticipate that Lamb Weston will post 4.54 EPS for the current fiscal year.

Lamb Weston Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, November 1st. Lamb Weston’s payout ratio is currently 19.23%.

Insiders Place Their Bets

In other news, Director William G. Jurgensen purchased 10,000 shares of the company’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 transaction, the director now owns 173,377 shares in the company, valued at approximately $9,610,287.11. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. WFA Asset Management Corp lifted its holdings in Lamb Weston by 248.6% in the first quarter. WFA Asset Management Corp now owns 244 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 174 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Lamb Weston during the 1st quarter worth approximately $28,000. Crewe Advisors LLC lifted its holdings in shares of Lamb Weston by 357.5% in the 2nd quarter. Crewe Advisors LLC now owns 334 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 261 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in Lamb Weston during the 1st quarter valued at approximately $32,000. Finally, GAMMA Investing LLC grew its stake in Lamb Weston by 135.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the specialty retailer’s stock worth $32,000 after buying an additional 220 shares during the last quarter. 89.56% of the stock is owned by institutional investors and hedge funds.

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.