Lamb Weston Holdings Inc. (LW) Rating Reiterated by Morgan Stanley
Morgan Stanley restated their equal weight rating on shares of Lamb Weston Holdings Inc. (NYSE:LW) in a research report sent to investors on Wednesday morning. They currently have a $46.00 price target on the specialty retailer’s stock, up from their prior price target of $45.00.
LW has been the topic of a number of other reports. Jefferies Group LLC restated a buy rating and issued a $50.00 price target on shares of Lamb Weston Holdings in a research note on Tuesday, May 9th. CL King initiated coverage on shares of Lamb Weston Holdings in a research note on Tuesday, May 23rd. They issued a strong-buy rating and a $55.00 price target on the stock. Zacks Investment Research upgraded shares of Lamb Weston Holdings from a hold rating to a buy rating and set a $51.00 price target on the stock in a research note on Friday, May 26th. Stifel Nicolaus downgraded shares of Lamb Weston Holdings from a buy rating to a hold rating and raised their price target for the company from $42.00 to $44.00 in a research note on Friday, April 7th. Finally, Bank of America Corporation raised their price target on shares of Lamb Weston Holdings from $46.00 to $48.00 and gave the company a buy rating in a research note on Monday, July 10th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $46.22.
Shares of Lamb Weston Holdings (LW) traded down 0.09% during trading on Wednesday, hitting $43.82. 951,064 shares of the company’s stock were exchanged. Lamb Weston Holdings has a 1-year low of $29.62 and a 1-year high of $49.94. The stock’s 50-day moving average price is $44.59 and its 200-day moving average price is $42.18. The stock has a market cap of $6.40 billion and a PE ratio of 21.60.
Lamb Weston Holdings (NYSE:LW) last posted its quarterly earnings results on Tuesday, July 25th. The specialty retailer reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $833 million during the quarter, compared to analyst estimates of $810.85 million. During the same quarter in the previous year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts expect that Lamb Weston Holdings will post $2.30 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be issued a $0.1875 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $0.75 dividend on an annualized basis and a yield of 1.71%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Telemus Capital LLC acquired a new position in shares of Lamb Weston Holdings during the first quarter worth about $2,976,000. Auxier Asset Management acquired a new position in shares of Lamb Weston Holdings during the fourth quarter worth about $1,312,000. Ruffer LLP acquired a new position in shares of Lamb Weston Holdings during the first quarter worth about $106,030,000. Soros Fund Management LLC raised its position in shares of Lamb Weston Holdings by 11.7% in the first quarter. Soros Fund Management LLC now owns 326,999 shares of the specialty retailer’s stock worth $13,754,000 after buying an additional 34,200 shares during the period. Finally, Bollard Group LLC raised its position in shares of Lamb Weston Holdings by 6.4% in the first quarter. Bollard Group LLC now owns 25,088 shares of the specialty retailer’s stock worth $1,055,000 after buying an additional 1,508 shares during the period. Institutional investors and hedge funds own 77.92% of the company’s stock.
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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