Lamb Weston Holdings Inc (NYSE:LW) shares rose 3.3% during trading on Wednesday . The stock traded as high as $57.65 and last traded at $56.84, approximately 126,937 shares were traded during trading. A decline of 94% from the average daily volume of 2,019,367 shares. The stock had previously closed at $55.04.
LW has been the topic of several research reports. Jefferies Financial Group initiated coverage on Lamb Weston in a report on Wednesday, January 22nd. They set a “hold” rating and a $96.00 price objective on the stock. ValuEngine downgraded Lamb Weston from a “buy” rating to a “hold” rating in a report on Friday, November 29th. Zacks Investment Research downgraded Lamb Weston from a “buy” rating to a “hold” rating and set a $73.00 price objective on the stock. in a report on Friday, March 13th. Bank of America downgraded Lamb Weston from a “buy” rating to a “neutral” rating in a report on Thursday, March 19th. Finally, Stifel Nicolaus downgraded Lamb Weston from a “buy” rating to a “hold” rating and lifted their price target for the company from $81.00 to $92.00 in a report on Sunday, January 5th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Lamb Weston presently has an average rating of “Hold” and a consensus target price of $81.43.
The stock has a fifty day moving average price of $80.02 and a 200-day moving average price of $81.38. The company has a debt-to-equity ratio of 10.96, a quick ratio of 0.70 and a current ratio of 1.65. The firm has a market capitalization of $8.04 billion, a PE ratio of 17.10, a P/E/G ratio of 4.70 and a beta of 0.30.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be paid a dividend of $0.23 per share. The ex-dividend date is Thursday, May 7th. This represents a $0.92 annualized dividend and a yield of 1.56%. Lamb Weston’s dividend payout ratio (DPR) is 28.57%.
In other Lamb Weston news, Director William G. Jurgensen bought 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were purchased at an average cost of $92.01 per share, for a total transaction of $1,656,180.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert Mcnutt sold 8,696 shares of Lamb Weston stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $91.20, for a total value of $793,075.20. Following the sale, the chief financial officer now directly owns 59,111 shares of the company’s stock, valued at approximately $5,390,923.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,668 shares of company stock worth $2,164,789. 0.82% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. lifted its position in Lamb Weston by 7.5% during the 4th quarter. Macquarie Group Ltd. now owns 2,077,769 shares of the specialty retailer’s stock worth $178,751,000 after acquiring an additional 144,479 shares during the period. Engrave Wealth Partners LLC acquired a new stake in Lamb Weston during the 4th quarter worth about $38,000. Danda Trouve Investment Management Inc. acquired a new stake in Lamb Weston during the 4th quarter worth about $35,000. Nuveen Asset Management LLC lifted its position in Lamb Weston by 6.7% during the 4th quarter. Nuveen Asset Management LLC now owns 437,195 shares of the specialty retailer’s stock worth $37,612,000 after acquiring an additional 27,394 shares during the period. Finally, Norges Bank acquired a new stake in Lamb Weston during the 4th quarter worth about $120,879,000. 85.03% of the stock is owned by institutional investors.
Lamb Weston Company Profile (NYSE:LW)
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
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