Bank of America Corporation Increases Lamb Weston Holdings Inc. (LW) Price Target to $57.00
Lamb Weston Holdings Inc. (NYSE:LW) had its price objective upped by Bank of America Corporation from $52.00 to $57.00 in a report published on Monday morning. They currently have a buy rating on the specialty retailer’s stock.
LW has been the topic of a number of other reports. Zacks Investment Research upgraded Lamb Weston Holdings from a hold rating to a buy rating and set a $54.00 price target on the stock in a research note on Friday, October 6th. Jefferies Group LLC reaffirmed a buy rating and issued a $58.00 price objective (up previously from $53.00) on shares of Lamb Weston Holdings in a research report on Thursday, October 5th. Finally, Morgan Stanley reissued an equal weight rating and set a $50.00 price target (up previously from $46.00) on shares of Lamb Weston Holdings in a research report on Thursday, October 5th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Lamb Weston Holdings presently has a consensus rating of Buy and an average target price of $48.89.
Lamb Weston Holdings (LW) traded up $0.21 during trading hours on Monday, hitting $51.83. The company had a trading volume of 285,844 shares, compared to its average volume of 976,018. Lamb Weston Holdings has a fifty-two week low of $28.75 and a fifty-two week high of $52.47. The company has a debt-to-equity ratio of -4.10, a quick ratio of 0.67 and a current ratio of 1.62. The firm has a market capitalization of $7,659.26 and a PE ratio of 22.78.
Lamb Weston Holdings (NYSE:LW) last issued its earnings results on Wednesday, October 4th. The specialty retailer reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. The business had revenue of $817.50 million for the quarter, compared to analyst estimates of $795.61 million. Lamb Weston Holdings had a negative return on equity of 50.81% and a net margin of 10.31%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. equities research analysts expect that Lamb Weston Holdings will post 2.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be issued a $0.1875 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.45%. Lamb Weston Holdings’s payout ratio is currently 33.63%.
Large investors have recently made changes to their positions in the stock. Schroder Investment Management Group acquired a new position in Lamb Weston Holdings during the second quarter worth $106,000. Advisory Services Network LLC grew its position in shares of Lamb Weston Holdings by 81.5% in the second quarter. Advisory Services Network LLC now owns 3,094 shares of the specialty retailer’s stock valued at $136,000 after purchasing an additional 1,389 shares during the last quarter. First Mercantile Trust Co. acquired a new stake in Lamb Weston Holdings during the second quarter worth about $137,000. Massey Quick Simon & CO. LLC acquired a new stake in Lamb Weston Holdings during the third quarter worth about $146,000. Finally, IndexIQ Advisors LLC acquired a new stake in Lamb Weston Holdings during the second quarter worth about $149,000. Institutional investors and hedge funds own 79.79% of the company’s stock.
Lamb Weston Holdings Company Profile
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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