Lamb Weston (NYSE:LW) Given New $68.00 Price Target at Bank of America

Lamb Weston (NYSE:LW) had its price target hoisted by Bank of America from $66.00 to $68.00 in a research report report published on Tuesday morning, Benzinga reports. Bank of America currently has a neutral rating on the specialty retailer’s stock.

Other research analysts have also issued reports about the company. Barclays cut their price target on Lamb Weston from $96.00 to $70.00 and set an overweight rating for the company in a report on Friday, July 26th. TD Cowen cut shares of Lamb Weston from a buy rating to a hold rating and cut their target price for the company from $105.00 to $61.00 in a research note on Thursday, July 25th. Citigroup decreased their price target on shares of Lamb Weston from $106.00 to $104.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company dropped their price objective on shares of Lamb Weston from $98.00 to $70.00 and set an overweight rating on the stock in a report on Friday, July 26th. Finally, Stifel Nicolaus cut shares of Lamb Weston from a buy rating to a hold rating and reduced their target price for the company from $115.00 to $60.00 in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $83.20.

Lamb Weston Stock Performance

Shares of NYSE LW opened at $65.69 on Tuesday. The business’s 50-day simple moving average is $64.21 and its 200-day simple moving average is $80.23. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.59 and a current ratio of 1.29. Lamb Weston has a 52 week low of $52.99 and a 52 week high of $111.88. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of 8.77, a P/E/G ratio of 5.96 and a beta of 0.75.

Lamb Weston (NYSE:LW) last announced its earnings results on Wednesday, July 24th. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.46). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.71 billion. Lamb Weston had a return on equity of 44.06% and a net margin of 11.22%. As a group, equities research analysts expect that Lamb Weston will post 4.54 earnings per share for the current fiscal year.

Lamb Weston Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.19%. The ex-dividend date was Friday, August 2nd. Lamb Weston’s dividend payout ratio is 19.23%.

Insiders Place Their Bets

In other news, Director William G. Jurgensen bought 10,000 shares of Lamb Weston stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $55.43 per share, for a total transaction of $554,300.00. Following the purchase, the director now owns 173,377 shares of the company’s stock, valued at $9,610,287.11. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LW. WFA Asset Management Corp raised its position in Lamb Weston by 248.6% in the 1st quarter. WFA Asset Management Corp now owns 244 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 174 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Lamb Weston in the first quarter valued at about $28,000. Crewe Advisors LLC lifted its position in Lamb Weston by 357.5% during the 2nd quarter. Crewe Advisors LLC now owns 334 shares of the specialty retailer’s stock worth $28,000 after buying an additional 261 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Lamb Weston during the 1st quarter worth about $32,000. Finally, GAMMA Investing LLC increased its position in Lamb Weston by 135.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 220 shares in the last quarter. 89.56% of the stock is owned by institutional investors and hedge funds.

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.