Lamb Weston Holdings, Inc. (NYSE:LW – Get Free Report) shares fell 3.5% during trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $129.00 to $127.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lamb Weston traded as low as $94.00 and last traded at $94.36. 2,970,146 shares were traded during trading, an increase of 100% from the average session volume of 1,481,687 shares. The stock had previously closed at $97.75.
Several other equities research analysts have also commented on LW. Jefferies Financial Group boosted their price target on Lamb Weston from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com began coverage on Lamb Weston in a research note on Thursday. They issued a “hold” rating on the stock. Stifel Nicolaus raised Lamb Weston from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Friday, August 4th. Barclays increased their price target on Lamb Weston from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 20th. Finally, TD Cowen began coverage on Lamb Weston in a research note on Wednesday, September 13th. They set an “outperform” rating and a $125.00 price target on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Lamb Weston currently has a consensus rating of “Moderate Buy” and an average price target of $125.29.
Insider Transactions at Lamb Weston
In related news, insider Eryk J. Spytek sold 6,319 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $103.23, for a total value of $652,310.37. Following the completion of the sale, the insider now directly owns 1,052 shares in the company, valued at approximately $108,597.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.66% of the company’s stock.
Institutional Trading of Lamb Weston
Large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its position in Lamb Weston by 60.0% in the 1st quarter. Raymond James & Associates now owns 31,305 shares of the specialty retailer’s stock valued at $1,875,000 after buying an additional 11,741 shares during the last quarter. American Century Companies Inc. boosted its position in Lamb Weston by 37.5% in the 1st quarter. American Century Companies Inc. now owns 21,746 shares of the specialty retailer’s stock valued at $1,302,000 after buying an additional 5,933 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Lamb Weston in the 1st quarter valued at about $92,000. MetLife Investment Management LLC boosted its position in Lamb Weston by 28.5% in the 1st quarter. MetLife Investment Management LLC now owns 41,455 shares of the specialty retailer’s stock valued at $2,484,000 after buying an additional 9,184 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Lamb Weston by 158.3% in the 1st quarter. Panagora Asset Management Inc. now owns 28,927 shares of the specialty retailer’s stock valued at $1,733,000 after buying an additional 17,726 shares during the last quarter. 85.77% of the stock is currently owned by institutional investors and hedge funds.
Lamb Weston Trading Down 3.8 %
The company has a current ratio of 1.56, a quick ratio of 0.88 and a debt-to-equity ratio of 2.30. The business’s 50-day simple moving average is $97.15 and its two-hundred day simple moving average is $105.80. The company has a market capitalization of $13.71 billion, a PE ratio of 13.88, a PEG ratio of 1.58 and a beta of 0.55.
Lamb Weston (NYSE:LW – Get Free Report) last issued its quarterly earnings results on Thursday, October 5th. The specialty retailer reported $1.63 EPS for the quarter, topping the consensus estimate of $1.08 by $0.55. Lamb Weston had a net margin of 18.86% and a return on equity of 84.65%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 48.0% compared to the same quarter last year. On average, analysts predict that Lamb Weston Holdings, Inc. will post 5.27 earnings per share for the current year.
Lamb Weston Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.19%. Lamb Weston’s payout ratio is 16.18%.
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.