Lamb Weston (LW) to Issue Quarterly Dividend of $0.38 on June 5th

Lamb Weston (NYSE:LW) announced a quarterly dividend on Tuesday, March 31st. Shareholders of record on Friday, May 8th will be paid a dividend of 0.38 per share by the specialty retailer on Friday, June 5th. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, May 8th.

Lamb Weston has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Lamb Weston has a dividend payout ratio of 39.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lamb Weston to earn $3.09 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 49.2%.

Lamb Weston Trading Up 1.1%

Shares of Lamb Weston stock opened at $42.94 on Wednesday. Lamb Weston has a twelve month low of $37.62 and a twelve month high of $67.07. The company has a quick ratio of 0.69, a current ratio of 1.46 and a debt-to-equity ratio of 1.99. The business has a 50-day moving average price of $43.15 and a 200-day moving average price of $49.36. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 6.15 and a beta of 0.47.

Lamb Weston (NYSE:LW) last posted its earnings results on Wednesday, April 1st. The specialty retailer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.11. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.49 billion. Lamb Weston had a return on equity of 23.77% and a net margin of 4.61%.The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.10 earnings per share. Equities research analysts anticipate that Lamb Weston will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lamb Weston news, insider Jan Eli B. Craps acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were bought at an average cost of $48.65 per share, with a total value of $2,432,500.00. Following the completion of the acquisition, the insider directly owned 300,000 shares in the company, valued at $14,595,000. This represents a 20.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jana Partners Management, Lp purchased 136,000 shares of Lamb Weston stock in a transaction dated Tuesday, April 7th. The stock was bought at an average cost of $40.89 per share, with a total value of $5,561,040.00. Following the completion of the transaction, the director owned 5,148,980 shares in the company, valued at approximately $210,541,792.20. This represents a 2.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 441,000 shares of company stock worth $18,703,290 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Lamb Weston

Several hedge funds and other institutional investors have recently modified their holdings of LW. AlphaQuest LLC increased its holdings in shares of Lamb Weston by 115.5% in the third quarter. AlphaQuest LLC now owns 446 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 239 shares during the period. MCF Advisors LLC lifted its holdings in shares of Lamb Weston by 44.2% during the fourth quarter. MCF Advisors LLC now owns 649 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 199 shares during the period. Quent Capital LLC purchased a new stake in Lamb Weston in the third quarter valued at approximately $29,000. Motco purchased a new stake in Lamb Weston in the third quarter valued at approximately $30,000. Finally, Hantz Financial Services Inc. increased its holdings in Lamb Weston by 380.7% in the 4th quarter. Hantz Financial Services Inc. now owns 721 shares of the specialty retailer’s stock worth $30,000 after buying an additional 571 shares during the period. 89.56% of the stock is owned by hedge funds and other institutional investors.

About Lamb Weston

Lamb Weston, traded on the NYSE under the symbol LW, is a leading global processor and supplier of frozen potato products. The company’s portfolio includes a variety of potato-based items such as French fries, potato wedges, hash browns and specialty cuts tailored to the foodservice and retail grocery channels. Lamb Weston serves quick-service restaurants, full-service operators, grocery chains and food distributors, offering customized product formats, packaging solutions and seasoning options to meet evolving customer demands.

Founded in 1950 and headquartered in Eagle, Idaho, Lamb Weston has grown from a regional processor into one of the world’s largest producers of frozen potato products.