Lamb Weston Holdings Inc. (LW) Price Target Increased to $57.00 by Analysts at Bank of America Corporation
Lamb Weston Holdings Inc. (NYSE:LW) had its price target boosted by Bank of America Corporation from $52.00 to $57.00 in a research note published on Monday. The firm currently has a buy rating on the specialty retailer’s stock.
A number of other equities research analysts have also issued reports on LW. Jefferies Group LLC reaffirmed a buy rating and set a $53.00 target price on shares of Lamb Weston Holdings in a report on Monday, September 25th. Morgan Stanley reaffirmed an equal weight rating and set a $50.00 target price (up previously from $46.00) on shares of Lamb Weston Holdings in a report on Thursday, October 5th. Finally, Zacks Investment Research raised shares of Lamb Weston Holdings from a hold rating to a buy rating and set a $48.00 target price for the company in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $48.89.
Lamb Weston Holdings (NYSE LW) traded down $0.40 during trading hours on Monday, reaching $51.66. 435,756 shares of the company’s stock were exchanged, compared to its average volume of 728,415. The company has a debt-to-equity ratio of -4.10, a current ratio of 1.62 and a quick ratio of 0.67. The firm has a market capitalization of $7,570.00 and a PE ratio of 22.66. Lamb Weston Holdings has a 52 week low of $28.75 and a 52 week high of $52.47.
Lamb Weston Holdings (NYSE:LW) last released its earnings results on Wednesday, October 4th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. Lamb Weston Holdings had a net margin of 10.31% and a negative return on equity of 50.81%. The business had revenue of $817.50 million during the quarter, compared to analyst estimates of $795.61 million. The business’s revenue was up 5.3% compared to the same quarter last year. equities research analysts predict that Lamb Weston Holdings will post 2.35 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, November 2nd. Lamb Weston Holdings’s dividend payout ratio is currently 33.48%.
Several institutional investors and hedge funds have recently made changes to their positions in LW. Janus Henderson Group PLC grew its holdings in shares of Lamb Weston Holdings by 33,787.6% in the second quarter. Janus Henderson Group PLC now owns 2,676,101 shares of the specialty retailer’s stock valued at $117,856,000 after purchasing an additional 2,668,204 shares during the period. Conatus Capital Management LP purchased a new stake in shares of Lamb Weston Holdings in the second quarter valued at about $41,925,000. Balyasny Asset Management LLC grew its holdings in shares of Lamb Weston Holdings by 5,398.6% in the second quarter. Balyasny Asset Management LLC now owns 716,192 shares of the specialty retailer’s stock valued at $31,541,000 after purchasing an additional 703,167 shares during the period. Harris Associates L P purchased a new stake in shares of Lamb Weston Holdings in the second quarter valued at about $30,823,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Lamb Weston Holdings by 596.0% in the second quarter. Renaissance Technologies LLC now owns 569,300 shares of the specialty retailer’s stock valued at $25,072,000 after purchasing an additional 487,500 shares during the period. 79.79% of the stock is owned by hedge funds and other institutional investors.
About Lamb Weston Holdings
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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