Jefferies Group Raises Lamb Weston (LW) Price Target to $64.00
Lamb Weston (NYSE:LW) had its price objective boosted by Jefferies Group to $64.00 in a research report sent to investors on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the specialty retailer’s stock. Jefferies Group also issued estimates for Lamb Weston’s FY2022 earnings at $3.72 EPS.
A number of other analysts also recently weighed in on LW. Morgan Stanley reissued an equal weight rating and set a $50.00 target price (up previously from $46.00) on shares of Lamb Weston in a research report on Thursday, October 5th. Zacks Investment Research raised shares of Lamb Weston from a hold rating to a buy rating and set a $54.00 target price for the company in a research report on Friday, October 6th. Bank of America increased their target price on shares of Lamb Weston from $52.00 to $57.00 and gave the company a buy rating in a research report on Monday, November 6th. Finally, Stifel Nicolaus raised their price objective on shares of Lamb Weston from $54.00 to $58.00 and gave the stock a hold rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $53.13.
Shares of Lamb Weston (LW) opened at $57.70 on Wednesday. The firm has a market cap of $8,366.94, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 2.55 and a beta of 1.02. The company has a current ratio of 1.62, a quick ratio of 0.67 and a debt-to-equity ratio of -4.10. Lamb Weston has a 52-week low of $35.81 and a 52-week high of $58.00.
Lamb Weston (NYSE:LW) last released its earnings results on Thursday, January 4th. The specialty retailer reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $824.60 million during the quarter, compared to the consensus estimate of $815.29 million. Lamb Weston had a net margin of 9.85% and a negative return on equity of 50.90%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. equities research analysts forecast that Lamb Weston will post 2.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 2nd will be given a dividend of $0.1913 per share. This is an increase from Lamb Weston’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, February 1st. This represents a $0.77 annualized dividend and a dividend yield of 1.33%. Lamb Weston’s dividend payout ratio (DPR) is 34.72%.
Several hedge funds have recently made changes to their positions in LW. Schwab Charles Investment Management Inc. grew its position in shares of Lamb Weston by 10.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 435,806 shares of the specialty retailer’s stock worth $19,193,000 after buying an additional 40,747 shares during the period. Blair William & Co. IL grew its position in shares of Lamb Weston by 0.3% during the 2nd quarter. Blair William & Co. IL now owns 6,600 shares of the specialty retailer’s stock worth $291,000 after buying an additional 21 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Lamb Weston during the 2nd quarter worth approximately $11,787,000. Utah Retirement Systems grew its position in Lamb Weston by 0.8% in the 2nd quarter. Utah Retirement Systems now owns 26,785 shares of the specialty retailer’s stock valued at $1,179,000 after purchasing an additional 200 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Lamb Weston by 43.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,822 shares of the specialty retailer’s stock valued at $256,000 after purchasing an additional 1,770 shares during the period. 79.38% of the stock is owned by institutional investors.
About Lamb Weston
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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